Investments In Residential Construction Fell 0.4% In June

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In another sign that Canada’s housing market is cooling, investments in residential construction

declined in June for the first time in nine months, according to Statistics Canada.

The federal agency reports that residential construction investment fell 0.4% to $15.5 billion in

June, with the biggest decline observed in Quebec.

However, an increase in Canada’s non-residential construction sector helped push overall

construction investment up 0.3% to $20.8 billion during the month of June.

Non-residential construction investment grew 2.4% to $5.3 billion in June, with commercial

construction gaining 2.7% to $3 billion.

Within the residential segment, investments in single-family homes rose 0.7% to $8.6 billion,

outpacing multi-unit construction.

Statistics Canada said the total value of investments made in building construction rose 3.3% to

$62.3 billion in the second quarter, the third consecutive quarterly increase.

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