Non-residential building climbs 1.2%

Investment in non-residential building construction reached $10.1-billion in the second quarter of 2010, up 1.2% from the previous quarter, Statistics Canada said yesterday. It was the first quarterly increase since the recession hit in the fourth quarter of 2008, the federal agency said. However, the most recent figure is still 7.7% lower than the value reported in the fourth quarter of 2008. Investors put $5.5-billion into commercial projects in the second quarter, up 1.5% from the previous quarter, the first increase in five consecutive quarters. Investment in industrial building increased 6.9% to $1.1-billion in the second quarter after seven consecutive quarterly declines. Investment in institutional construction decreased 1% from the previous quarter to $3.5-billion. Ontario had the largest increase followed by Quebec, while British Columbia and Alberta recorded the largest declines.

(Source: National Post)