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MARKET BEATS 9
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seeing its weakest performance since the start of the Pickpik
pandemic.
"New work decreased to the least marked extent since
March, despite widespread reports of challenging market
conditions. Construction companies commented on headwinds
from subdued housing sales, elevated interest rates and

squeezed consumer finances, alongside cutbacks to business
investment plans. Some firms noted delays with infrastructure
work and fewer public sector tender opportunities, but energy
markets were cited as an area of positivity."
Moore said supply chain challenges appear to have
receded, with vendor delivery times lengthening to the smallest
degree since March. Construction companies also reported
a slowdown in input price inflation from the near four-year
peak seen in May. (+$136.0 million) and Ontario (+$83.8 million) was moderated

by broad declines across seven provinces and one territory,
Canadian building construction investment rises 2.3% led by British Columbia (-$23.1 million).
According to the latest report from Statistics Canada, the total In April, the value of non-residential investment in building
value of investment in building construction increased $540.8 construction edged up $49.0 million to $7.1 billion. Increases
million (+2.3%) to $23.6 billion in April. in the industrial (+3.5%) and commercial (+0.1%) components
The residential sector rose 3.1 percent, while the non- were moderated by a slight decline in the institutional
residential sector edged up 0.7 percent. Year over year, component (-0.2%).

investment in building construction grew 7.8 percent in April, Investment in the industrial component grew $48.8
according to a report by statcan.gc.ca. million to $1.4 billion in April. Ontario (+$25.8 million),
On a constant dollar basis (2023=100), the total value British Columbia (+$16.4 million) and Alberta (+$5.2 million)
of investment in building construction in April increased 2.2 were the primary contributors to the increase. In total, six
percent from the previous month to $21.5 billion, and it was provinces and two territories contributed to the growth in
up 4.5 percent year over year. this component.
In April, investment in residential building construction Investment in commercial construction edged up $4.1
increased $491.9 million to $16.5 billion. Both the multi-unit million to $3.5 billion in April, led by Alberta (+$10.0 million)
component (+4.0%) and the single-family component (+2.0%) and British Columbia (+$3.6 million). The gains in these two

contributed to the increase. provinces were partially offset by declines in Ontario (-$7.9
Investment in multi-unit construction investment was up million) and Quebec (-$1.3 million).
$338.8 million to $8.8 billion in April. British Columbia (+$231.2 Meanwhile, investment in the institutional component
million) led the increase, and it was supported by broad gains edged down $3.9 million to $2.2 billion in April. Declines
across four other provinces and two territories. in Quebec (-$5.8 million), Manitoba (-$1.6 million) and
Meanwhile, investment in single-family home construction Nova Scotia (-$1.6 million) were tempered by an increase
rose $153.1 million to $7.7 billion in April. Growth in Quebec in Ontario (+$5.3 million).