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For additional information relating to this article, please contact:

Alexander Chute Economist
Tel: 902-424-5810Email: Alexander.Chute@novascotia.ca

September 01, 2017
NON-RESIDENTIAL CONSTRUCTION INVESTMENT Q2 2017 [REVISED]

Statistics Canada revisions to Q1-Q2 2017 non-residential building construction data were positive but small (less than 0.5%) for all provinces. Nova Scotia non-residential building construction was revised up 0.3 per cent or $0.9 million for the first half of 2017. The following DailyStats article has been updated to reflect the latest data.

Nova Scotia's non-residential building construction investment (seasonally adjusted) was $143.9 million in the second quarter of 2017. This was 5.8 per cent higher than the previous quarter owing to increases in industrial (+14.9%), commercial (+1.2%) and institutional and government (+15.2%).

Compared to the same quarter last year (Q2 2016), non-residential building construction is down 12.4 per cent. Activity was lower in the largest subsector commercial (-24.6 per cent) while industrial (+23.4%) and institutional and government (+19.0%) increased.

 

Halifax non-residential building construction was up 15.4 per cent compared to the previous quarter due to growth in all three subsectors. Outside of Halifax, non-residential building construction decreased 2.8 per cent in the quarter, with growth in industrial construction (+12.4 per cent) and government (+4.7 per cent) while commercial (-12.4 per cent) declined.

Over the first half of 2017 compared to the same period in 2016, non-residential building construction is down 17.1 per cent or $57.9 million in Nova Scotia. A decline in commercial building construction (-27.1%) offset an increase in industrial (+10.6%) and government (+10.5%). The decline in commercial building construction occurred in the Halifax region with a decline of 40.0 per cent. Non-residential building construction is up 9.2 per cent outside of Halifax.

 

In Canada, non-residential building construction increased slightly in the second quarter of 2017 (+0.3 per cent) after three consecutive months of decline. Investments in industrial projects were up 2.2 per cent with higher investment in manufacturing facilities, farm buildings, and utilities buildings. Commercial buildings were up 0.4 per cent led by office and retail buildings. Institutional building investment was down 0.7 per cent. Ontario accounted for the largest gains in all three components.

Compared to the second quarter of 2016, Canadian non-residential building construction was down 0.5 per cent, with declines in industrial (-1.8 per cent) and commercial (-1.61per cent) construction partially offset by growth in institutional and governmental construction (+1.6 per cent).

 

In the second quarter 2017, non-residential building construction was down in four provinces. Newfoundland and Labrador and New Brunswick posted the largest percentage increase at 6.6 per cent while the largest decline was seen in Prince Edward Island.

Comparing the second quarter of 2017 to the second quarter in 2016, non-residential building construction was down in five provinces including Nova Scotia, with the largest decline in Newfoundland and Labrador. Prince Edward Island, New Brunswick, Quebec, Ontario and Manitoba posted increases.

 

On a year-to-date basis, non-residential building construction has declined 0.5 per cent in Canada with declines in Newfoundland and Labrador, Nova Scotia, Saskatchewan, Alberta and British Columbia. The largest increases have occurred in New Brunswick (+39.5%), Prince Edward Island (+23.3%) and Manitoba (+22.1%). Quebec (+3.4%) and Ontario (+0.5%) have also posted increases over the first half of 2016.

 

 Statistics Canada CANSIM 026-0016



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