October 24, 2022
Summary: From July to August 2022, investment in building construction was relatively stable, with changes of less than 2% in each sector. Yearly changes were somewhat higher, with the industrial sector experiencing the largest increase at 24.8%. Year-to-date investment was higher across all sectors, with the largest increase again in the industrial sector.
From July 2022-August 2022, the change in building investment was minimal across sectors. Commercial sector investment decreased 1.1% ($1.21-$1.19 billion), whereas industrial sector investment increased 1.2% ($473.3-$479.2 million). Institutional building investment went up by only 0.8% ($466.1-$469.9 million). Yearly changes were somewhat larger, with a 3.3% increase in the commercial sector ($1.15-$1.19 billion) and a 4.7% decrease in the institutional sector ($492.5-$469.6 million). The industrial sector saw a more sizeable year-over-year increase of 24.8% ($384-$479.2 million). Month-to-month, overall ICI investment in building construction was relatively stable as it only decreased 0.2%. Year-to-year, there was an increase of 5.4% ($2.03-$2.14 billion) which was mainly due to the increase in industrial building investment. These changes signal that construction activity was relatively stable across ICI sectors from July to August 2022, and that industrial sector activity increased compared to August 2021.
Year-to-Date investment was up across all sectors, with the industrial sector experiencing the largest increase. This indicates that construction activity was up this year from January to August compared to the same period in 2021.
FOR MORE INFORMATION, CONTACT:
Director of Research
Ontario Construction Secretariat (OCS)
180 Attwell Drive, Suite 360, Toronto, ON M9W 6A9
P 416.620.5210 ext. 222