Total investment in building construction in B.C. slowed in July, decreasing 5.3% (seasonally adjusted) to $2.8 billion.

Investment in non-residential building construction in the province was slightly higher than in June (+0.5% to $773 million). Spending on new buildings was up in the commercial (+0.5%) and institutional (+1.3%) sectors, offsetting a 0.8% decline in investment for new industrial projects.

Nationally, non-residential construction expenditures inched up 0.3%.

On the residential side, investment in B.C. slipped 7.3% (seasonally adjusted) in July. This marked the fifth monthly decrease in investment in residential structures in 2019. The decline was due mostly to a slowdown in spending on new multiple (including doubles, row homes, and condo and rental apartments) dwellings (-10.7% to $1.3 billion), as the decline in investment in single-detached homes was comparatively modest (-1.1% to $736 million).

Nationally, a 0.6% increase in total residential investment in July was driven by gains in Ontario (+5.4%), Alberta (+4.1%) and parts of Atlantic Canada.

Data Source: Statistics Canada