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According to Statistics Canada, investment in building construction edged up 0.3% to $20.8 billion in June. Gains in the non-residential sector (+2.4%) helped keep overall investment up. Most of the strength for the month came from Ontario, reporting gains across all building components following a weak May resulting from a strike by construction workers in the province.

Although six provinces recorded growth, investment in residential construction fell 0.4% to $15.5 billion in June, with Quebec (-6.7%) leading the most of the decline. This is the first decline in nine months for residential investment.

Investment in multi-unit construction fell 1.6% to $6.9 billion in June. Despite this decline, investment in multi-unit construction has been on an overall upward trend since October 2021.

Investment in single-family homes continued to show strength, having outpaced multi-unit construction since the slowdown in the COVID-19 pandemic. It rose 0.7% to $8.6 billion in June, with gains in six provinces.

Business investment rose 2.7% to $3.0 billion, led by Ontario (+4.1%). After falling for the first time in 13 months in May due to the construction workers’ strike in Ontario, the commercial component offset the temporary decline and continued its upward trend.

Investment in institutional construction rose 0.7% to $1.4 billion, with six provinces posting gains, led by Ontario (+3.8%).

Investments in the industrial component rose 3.7% to $974 million, the largest monthly value increase since May 2020, just after the pandemic-related shutdowns.