Investment in building construction dips 1.1% in September: StatsCan
AI Article Summary
Investment in building construction in Canada decreased by 1.1% to $22.4 billion in September, according to Statistics Canada. This decline was primarily due to a drop in residential activity, while non-residential spending remained stable. Despite the monthly decline, overall investment was 6% higher compared to the same period last year. On a constant-dollar basis using 2023 as the base year, total investment saw a decrease of 1.4%.
What This Means for Canadian Contractors
For Canadian builders, this means that the demand for residential permits might decrease temporarily, affecting planning and project timelines. A stable non-residential sector indicates steady opportunities in commercial projects. Contractors should anticipate potential fluctuations in residential subcontractor availability and might consider increasing focus on non-residential opportunities to balance the slowdown.
