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Building construction investment edges down in May

Investment in building construction edged down 0.2 per cent to $20.6 billion in May, as many of Ontario’s unionized construction workers were on strike during the month.

These strikes caused significant delays in numerous residential and non-residential construction projects throughout the province. Excluding Ontario, investment increased 1.1% at the national level.

At a sector level, non-residential investment fell 0.9% in May, while the residential sector edged up 0.1%.

On a constant dollar basis (2012=100), investment in building construction declined 0.2% to 13.0 billion in May.

Investment in building construction, seasonally adjusted

Residential sector trend flattens out

In May, investment in the residential sector was largely unchanged at $15.4 billion, following robust growth that started in September 2021. Excluding Ontario, the residential sector continued its upward trend, increasing 1.3% in May.

Multi-unit construction continued to climb, increasing 3.4% to $7.0 billion, with six provinces posting gains, led by Quebec (+10.0%).

Investment in single family homes declined 2.5%, ending its seven-month growth streak. Overall, six provinces reported growth in May, which was offset by declines in four provinces, with Ontario and Quebec causing most of the fall.

Investment in residential building construction, May 2022

Investment in residential building construction, seasonally adjusted

Non-residential sector breaks growth streak

Investment in the non-residential sector contracted 0.9% to $5.2 billion in May, with the construction worker strike in Ontario offsetting the gains of eight provinces and driving all three components downwards.

Investment in the industrial component edged down 0.2% to $935 million, with the increase in Quebec (+2.0%) largely offset by the declines in Ontario (-1.2%).

The institutional component fell 0.8% to $1.4 billion, with seven provinces reporting declines.

Despite gains in eight provinces, the commercial component decreased 1.2% to $2.9 billion based on the strike in Ontario. This was the first decline in thirteen months.

Investment in non-residential building construction, May 2022

For more information on housing, please visit the Housing statistics portal.