Fri, 03 Dec 2021

OTTAWA, Oct. 13 (Xinhua) -- Investment in Canada's building construction fell 2 percent to 17.7 billion Canadian dollars in August 2021, according to Statistics Canada on Wednesday.

It was the fourth consecutive monthly decline.

Residential construction investment decreased 2.9 percent in August while commercial investment was mostly unchanged, edging up 0.1 percent.

Investment in single-family homes was down 2.6 to 7 billion Canadian dollars in August while multi-unit construction investment declined 3.3 percent to 6 billion Canadian dollars.

Despite the fourth consecutive monthly decrease, single-unit construction was 25.6 percent higher than a year earlier.

However, non-residential construction investment rose 0.6 percent in August to 4.7 billion Canadian dollars.

Institutional investment posted the 10th consecutive monthly increase, up 1.8 percent to 1.3 billion Canadian dollars.

This was the highest level of investment in institutional construction since March 2012.

One Canadian dollar is about 0.80 U.S. dollar.

More Toronto News

Access More

Sign up for Toronto News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!