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October 07, 2020BUILDING CONSTRUCTION, AUGUST 2020 Total residential and non-residential construction
Investment in Nova Scotia building construction increased 3.7 per cent in August 2020 (seasonally adjusted) compared to July 2020. Halifax monthly building construction increased 4.7 per cent in August 2020.
Nationally, investment in building construction increased 5.0 per cent in August 2020. In August 2020, investment in building construction reached a record high level as construction companies pushed to catch up on work delayed earlier in the spring. Eight provinces showed monthly increase, with the largest increase in Manitoba (+20.3 per cent), New Brunswick (+13.5 per cent), and Alberta (+12.1 per cent). Investment in building construction decreased in Prince Edward Island (-4.1 per cent) and Saskatchewan (-0.6 per cent).
Year-to-date (Jan-Aug 2020 vs Jan-Aug 2019, seasonally adjusted), building construction investment was down 7.7 per cent in Nova Scotia. Halifax construction activity was down 5.5 per cent. National building construction investment was down 3.7 per cent with seven provinces reporting declines over Jan-Aug 2019. The largest decreases over this period were reported in Saskatchewan (-19.9 per cent), Newfoundland and Labrador (-15.8 per cent), and New Brunswick (-14.8 per cent). Increases were reported in Prince Edward Island (+7.6 per cent), Manitoba (+6.4 per cent) and Ontario (+2.2 per cent).
Total Nova Scotia building construction investment was $292.3 million in August. Halifax building construction totaled $169.2 million in August, while there was $123.1 million in building construction outside of Halifax.
Residential construction
In August 2020, residential construction investment (seasonally adjusted) in Nova Scotia increased 4.4 per cent to $240.2 million. Halifax residential construction increased 5.3 per cent to $141.5 million.
National residential construction increased 8.2 percent month-to-month as all provinces reported higher residential construction investment except Prince Edward Island (-5.9 per cent) in August 2020. The fastest increases were reported in Manitoba (+34.3 per cent) followed by Alberta (+19.0 per cent) and New Brunswick (+18.8 per cent). In August 2020, for the first time residential construction exceeded (+5.5 per cent) February 2020 pre-COVID levels.
Year-to-date (Jan-Aug 2020 vs Jan-Aug 2019, seasonally adjusted) residential construction investment was down 10.0 per cent in Nova Scotia. Halifax's residential construction was down 7.9 per cent.
National residential construction was down 6.5 per cent. All provinces reported lower residential construction investment except Prince Edward Island (+3.1 per cent) for the period. The largest declines were reported in Saskatchewan (-23.3 per cent) followed by Newfoundland and Labrador (-14.8 per cent), and Quebec (-14.6 per cent).
Lower renovations in Nova Scotia was the largest factor in the decrease compared to Jan-Aug 2019. In Jan-Aug 2020, new construction was up for singles and down for multiple dwelling units in Halifax and down for singles and up for multiple dwellings outside of Halifax.
Non-residential construction
In August, non-residential building construction increased 0.3 per cent to $52.1 million in Nova Scotia (seasonally adjusted). In Halifax, non-residential construction was up 2.1 per cent to $27.7 million.
National non-residential building construction decreased 1.2 per cent in August. Seven provinces reported declines with the fastest declines in Saskatchewan (-4.3 per cent) and New Brunswick (-2.1 per cent). Three provinces reported monthly gains, Newfoundland and Labrador (+3.7 per cent), Prince Edward Island (+2.7 per cent) and nova Scotia (0.3 per cent).
Year-to-date (Jan-Aug 2020 vs Jan-Aug 2019, seasonally adjusted) Nova Scotia's non-residential construction (seasonally adjusted) was up 3.0 per cent. Halifax's non-residential construction was up 7.2 per cent year-to-date.
National non-residential construction investment increased 2.2 per cent. The fastest growth was reported in Prince Edward Island (+22.7 per cent) and Manitoba (+17.7 per cent). The largest declines were reported in New Brunswick (-20.2 per cent) and Newfoundland and Labrador (-17.8 per cent).
Year-to-date (Jan-Aug 2020 vs Jan-Aug 2019) Nova Scotia non-residential building construction increases were concentrated in Halifax commercial but are partially offset with lower industrial and institutional/governmental project spending.
Statistics Canada. Table 34-10-0175-01 Investment in Building Construction
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