REMI

Non-residential building construction down

Tuesday, July 30, 2013

Investment in non-residential building construction in British Columbia declined by 2.2 per cent to $1.46 billion in 2013’s second quarter compared with the previous quarter, according to Statistics Canada. Nationally, investment decreased 3.4 per cent to $12.5 billion in the second quarter following five consecutive quarters of growth.

Commercial building construction investment was down in eight provinces in the second quarter, falling 3.2 per cent from the previous quarter to $7.6 billion, following six consecutive quarters of growth. The decline was led by lower investment in retail and wholesale outlets in eight provinces.

Alberta, B.C. and Saskatchewan posted the largest declines. In Alberta, commercial investment was down 1.9 per cent to $1.7 billion, reflecting reduced investment in the construction of transportation facilities and retail and wholesale outlets. Investment in B.C. was down 3.2 per cent to $884 million, following five consecutive quarters of growth.

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