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July 19, 2018NON-RESIDENTIAL CONSTRUCTION INVESTMENT Q2 2018 Nova Scotia's non-residential building construction investment (seasonally adjusted) was $173.1 million in the second quarter of 2018. This was 2.6 per cent higher than the previous quarter owing to an increase, in the largest component, commercial (+10.7%) and declines in industrial (-1.2%) and institutional and governmental (-28.3%).
Compared to the same quarter last year (Q2 2017), non-residential building construction increased 13.6 per cent. Activity was higher in the commercial subsector by 31.3 per cent while industrial (-9.0%) and institutional and government (-25.9%) building construction were lower.
Halifax non-residential building construction was up 2.2 per cent compared to the previous quarter due to growth in the commercial subsector offsetting lower industrial and institutional and governmental building construction. Outside of Halifax, non-residential building construction increased 3.3 per cent in the quarter with higher activity for industrial and commercial buildings.
For the first half of 2018 compared to the first half of 2017, non-residential building construction is up 16.0 per cent or $47.2 million in Nova Scotia. The increase in accounted for with a gain in commercial (+$50.5 million) offsetting smaller declines in industrial (-$1.4 million) and institutional and governmental (-$1.9 million). Non-residential building construction in Halifax is up 40.3 per cent while outside of Halifax it is down 7.8 per cent.
In Canada, non-residential building construction increased in the second quarter of 2018 (+1.4%), the fifth consecutive quarterly gain. The commercial and industrial components continued to increase while institutional building construction declined after four quarters of gains. Nationally, there was lower spending on schools, nursing homes, and penitentiaries, detention centres and courthouses. Investment was up in six provinces in Q2 with Ontario, Quebec and British Columbia accounting for the largest dollar increases.
Compared to the second quarter of 2017, Canadian non-residential building construction was up 7.8 per cent. Six provinces have higher non-residential construction activity while Prince Edward Island and the Prairie provinces had lower activity.
Comparing the first half of the year with the first half of last year, non-residential building construction is 8.2 per cent higher in Canada and 16.0 per cent higher in Nova Scotia. Six provinces are reporting increases in non-residential building construction while there has been lower activity in Prince Edward Island and the Prairie provinces.
Statistics Canada. Table 34-10-0011-01 Investment in non-residential building construction, by type of building, province and census metropolitan area (x 1,000)
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