Investment in building construction fell in January, mainly due to weaker residential activity.
Total investment declined 1.9% to $23.4 billion. In constant dollars, the decrease was 2.0%. Compared with a year earlier, overall investment was up 7.8%.
Residential construction led the monthly drop. Investment fell 3.0% to $16.4 billion, with declines in both single-family and multi-unit housing.
Spending on single-family homes decreased 3.4% to $7.3 billion. The decline was driven largely by Ontario and British Columbia, following lower permit values in December. Increases in a few provinces only partly offset the drop.
Multi-unit construction fell 2.7% to $9.1 billion. Quebec recorded the largest decline, with decreases also reported across most other regions.
Non-residential construction rose slightly, up 0.8% to $7.0 billion.
Commercial investment increased 1.1% to $3.5 billion, marking the sixth consecutive monthly gain. Growth was led by Ontario, Alberta and British Columbia.
Institutional construction also rose 1.1% to $2.1 billion, with British Columbia accounting for much of the increase.
Industrial construction edged down 0.4% to $1.3 billion, mainly due to lower investment in Quebec.
The overall decline in January reflects broad weakness in residential building, while gains in non-residential construction were limited.