Residential construction investment was down for the first time since April 2020, while non-residential construction increased slightly.
Residential construction was down 2.7 percent in May, bringing total investment to 14.8 billion Canadian dollars with declines in both single and multi-unit construction.
The investment in single-family homes fell 2.7 percent to 8.3 billion Canadian dollars in May. Despite the fall, single-unit investment remained approximately 60 percent above pre-COVID-19 levels.
Non-residential investment rose 0.6 percent to 4.7 billion Canadian dollars in May.
The investment in commercial construction climbed 0.8 percent to 2.6 billion Canadian dollars in May while institutional investment continued to grow for the seventh consecutive month, up 1.2 percent to 1.2 billion Canadian dollars.
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