Strikes in Ontario stunt national average – Investment in building construction, May 2022
July 15, 2022 By Anthony Capkun
July 15, 2022 – Statistics Canada reports investment in building construction edged down 0.2% to $20.6 billion in May. If you exclude Ontario, investment increased 1.1% nation-wide.
Many of Ontario’s unionized construction workers were on strike during the month, notes Statscan. “These strikes caused significant delays in numerous residential and non-residential construction projects throughout the province.”
As such, investment in the non-residential sector contracted 0.9% to $5.2 billion in May, with the strike in Ontario offsetting the gains of eight provinces, and driving all three components (industrial, commercial, institutional) downward.
In May 2022, investment in the residential sector remained largely unchanged at $15.4 billion, following growth that started in September 2021. Excluding Ontario, the residential sector continued its upward trend, increasing 1.3% in May.
Multi-unit construction continued to climb, increasing 3.4% to $7.0 billion, with six provinces posting gains, led by Quebec (+10.0%).
Investment in single-family homes declined 2.5%, ending its seven-month growth streak. Overall, six provinces reported growth in May, which was offset by declines in four provinces, with Ontario and Quebec causing most of the decline.
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