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July 12, 2021BUILDING CONSTRUCTION, MAY 2021 With May reference month results, year-over-year (May 2021 vs May 2020) and year-to-date (Jan-May 21 vs Jan-May 20) are beginning to show the rebounds in economic activity from the unprecedented declines observed at the start of the COVID-19 pandemic.
Total residential and non-residential construction
Investment in Nova Scotia building construction increased 2.0% in May 2021 (seasonally adjusted) compared to April 2021. Outside of Halifax monthly building construction increased 12.8% while Halifax building construction decreased 13.8% in May 2021.
Nationally, investment in building construction decreased 1.9% in May 2021, the first decline in seven months. The monthly decrease is mainly due to decline in residential construction. Monthly building construction was down in six provinces, with Saskatchewan (-13.7%) and Prince Edward Island (-10.1%) posting the largest declines. The largest gains were reported in Manitoba (+7.5%) and Alberta (+3.9%).
In the first five months of 2021, building construction investment (seasonally adjusted) was up 26.1% in Nova Scotia over January-May 2020. Halifax construction activity was up 5.5% and outside of Halifax construction activity was up 55.5%. National building construction investment was up 28.6% with all provinces reporting increases over January-May 2020. The largest increases over this period were reported in Prince Edward Island (+65.7%) and New Brunswick (+45.8%). The smallest increase over this period was reported in Alberta (+6.4%).
Total Nova Scotia building construction investment was $351.3 million in May 2021. Outside of Halifax building construction totaled $230.1 million in May 2021, while there was $121.1 million in building construction in Halifax. There had been a notable acceleration in building construction investment towards the end of 2020, particularly residential construction investment in Halifax. In recent months building construction is declining in Halifax while increasing in Outside of Halifax.
Residential construction
In May 2021, residential construction investment (seasonally adjusted) in Nova Scotia increased 2.4% to $300.3 million. Outside the Halifax residential construction was up 14.5% to $199.3 million. Halifax residential construction was down 15.2% to $101.0 million.
National residential construction decreased 2.7% month-to-month with five provinces reported lower residential construction investment. The largest declines were reported in Saskatchewan (-16.9%) and Prince Edward Island (-13.7%). The largest gains were reported in Manitoba (+11.7%) and Alberta (+4.8%).
In January-May 2021, residential construction investment (seasonally adjusted) was up 34.3% in Nova Scotia over the same period in 2020. Halifax's residential construction was up 11.0%. Outside of Halifax, residential construction was up 70.0%.
National residential construction was up 44.8%. All provinces reported higher residential construction investment for the period. The largest increases were reported in New Brunswick (+85.0%) and Saskatchewan (+80.5%). The smallest increase was reported in British Columbia (+18.5%).
Higher renovations across the province was the largest factor in the increase compared to January-May 2020. In January-May 2021, new construction was up both for singles and multiple dwelling units across the province compared to the first five months of 2020.
Non-residential construction
In May 2021, non-residential building construction edged down 0.6% to $50.9 million in Nova Scotia (seasonally adjusted). In Halifax, non-residential construction was down 5.6% to $20.1 million. Outside of Halifax, non-residential construction was up 3.0% to $30.8 million.
National non-residential building construction was up 0.6% in May 2021. Four provinces reported increases, with the largest increase in Prince Edward Island (+5.7%). The largest declines were reported in Manitoba (-4.1%) and Newfoundland and Labrador (-3.0%).
In the first five months of 2021, Nova Scotia's non-residential construction (seasonally adjusted) was down 7.4% over the same period in 2020. Halifax's non-residential construction was down 21.2%. Outside of Halifax, non-residential construction was up 7.2%.
National non-residential construction investment decreased 4.1%, year-to-date. The largest declines were reported in Saskatchewan (-34.0%) and New Brunswick (-22.5%). Non-residential construction increased in Prince Edward Island (+34.4%), Ontario (+7.2%), and Newfoundland and Labrador (+6.5%) over this period.
In January-May 2021 vs January-May 2020, Nova Scotia non-residential building construction decreases were concentrated in Halifax commercial but were partially offset with higher industrial and institutional/government project spending across the province.
Statistics Canada. Table 34-10-0175-01 Investment in Building Construction
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