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April 09, 2021BUILDING CONSTRUCTION, FEBRUARY 2021 Total residential and non-residential construction
Investment in Nova Scotia building construction declined 3.9% in February 2021 (seasonally adjusted) compared to January. Halifax monthly building construction decreased 15.1% while building construction outside of Halifax increased 15.9% in February 2021.
Nationally, investment in building construction increased 4.2% in February 2021. The monthly increase is mainly due to gains in residential construction. Monthly building construction was up in six provinces, with Prince Edward Island (+12.7%) and Quebec (+7.4%) posting the largest gains. The largest declines were in Newfoundland and Labrador (-6.0%) and Nova Scotia.
In the first two months of 2021, building construction investment (seasonally adjusted) was up 21.8% in Nova Scotia over January-February 2020. Halifax construction activity was up 26.2% and outside of Halifax construction activity was up 15.7%. National building construction investment was up 8.1% with all provinces reporting increases except British Columbia (-2.1%) over January-February 2020. The largest increases over this period were reported in Newfoundland and Labrador (+50.4%) and New Brunswick (+27.9%).
Total Nova Scotia building construction investment was $349.2 million in February 2021. Halifax building construction totaled $198.1 million in February 2021, while there was $151.1 million in building construction outside of Halifax. There has been a notable acceleration in building construction investment towards the end of 2020, particularly residential construction investment in Halifax.
Residential construction
In February 2021, residential construction investment (seasonally adjusted) in Nova Scotia declined 4.4% to $300.9 million. Halifax residential construction was down 16.4% to $174.6 million. Outside the city residential construction was up 19.3% to $126.2 million.
National residential construction increased 5.7% month-to-month as six provinces reported higher residential construction investment. The largest increases were reported in Prince Edward Island (+15.4%) and Quebec (+10.0%). The largest declines were reported in Newfoundland and Labrador (-7.2%) and Nova Scotia.
In January-February 2021, residential construction investment (seasonally adjusted) was up 30.1% in Nova Scotia over the same period in 2020. Halifax's residential construction was up 33.9%. Outside of Halifax, residential construction was up 24.2%.
National residential construction was up 17.8%. All provinces reported higher residential construction investment for the period. The largest increases were reported in Newfoundland and Labrador (+80.3%), New Brunswick (+69.7%), and Saskatchewan (+62.0%).
Higher renovations in Halifax was the largest factor in the increase compared to January-February 2020. In January-February 2021, new construction was up both for singles and multiple dwelling units across the province compared to the first two months of 2020.
Non-residential construction
In February 2021, non-residential building construction was down 1.3% to $48.3 million in Nova Scotia (seasonally adjusted). In Halifax, non-residential construction was down 3.8% to $23.4 million. Outside of Halifax, non-residential construction was up 1.2% to $24.9 million.
National non-residential building construction edged up 0.2% in February 2021. Five provinces reported increases, with the largest increases in Prince Edward Island (+5.4%) and New Brunswick (+1.3%). The largest declines were reported in Newfoundland and Labrador and Saskatchewan (both -2.4%).
In the first two months of 2021, Nova Scotia's non-residential construction (seasonally adjusted) was down 13.0% over the same period in 2020. Halifax's non-residential construction was down 13.8%. Outside of Halifax, non-residential construction was down 12.2%.
National non-residential construction investment decreased 11.7%, year-to-date. The largest declines were reported in Saskatchewan (-36.0%) and New Brunswick (-33.0%). Non-residential construction increased in Prince Edward Island (+18.5%) and Newfoundland and Labrador (+1.7%) over this period.
In January-February 2021 vs January-February 2020, Nova Scotia non-residential building construction decreases were concentrated in Halifax commercial but were partially offset with higher Halifax industrial and institutional/government project spending.
Statistics Canada. Table 34-10-0175-01 Investment in Building Construction
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