Issue 16-75: Non-residential Building Investment
April 15, 2016
Investment in non-residential building construction in the province increased 2.5% (seasonally adjusted) to $1.5 billion in the first quarter of 2016. The investment growth was driven by spending on both commercial (+3.2%) and industrial (+10.1%) buildings, which offset a substantial drop in the institutional sector (-2.1%).
Non-residential building construction activity continued to increase in Vancouver (+2.4%, to $972 million), Victoria (+9.6%, to $85 million), Kelowna (+14.1%, to $77 million) and Abbotsford-Mission. (+14.8%, to $36 million).
Nationally, non-residential construction expenditures dropped 1.6% in the first quarter. B.C. and Saskatchewan (+6.3%) were the only provinces where non-residential building construction was higher than in the fourth quarter of last year.
Data Source: Statistics Canada