Investment in construction of commercial property declines in Canada

Over Q1, the volume of investment in the specified segment of the national construction market has reached 10.3 billion Canadian dollars. In comparison to the preceding quarter, the indicator has plunged by 0.7%, while decreasing by 5.7% in relation to the corresponding period of 2009.

At the same time, various government agencies have build up their investment in new construction by 3.4%, compared with Q4 2010, up to 3.7 billion Canadian dollars, CBC News says with reference to Statistics Canada.

Against the background of government agencies’ increased activity demonstrated in the provinces of British Columbia, Ontario, New Brunswick and Alberta, a quarterly growth of investment volumes has also been recorded. That said, the sharpest decline during the specified period has been registered in Quebec.

A decrease has also been recorded in the segment of residential construction. In March, the number of new construction projects has climbed down by 1.6%, compared to the preceding month.