Canada's investment in building construction up 0.8% to $20.8B in May

By Ovunc Kutlu

ISTANBUL (AA) - Canada's investment in building construction increased 0.8% to reach $20.8 billion in May, according to the country's statistical agency on Thursday.

The figure is a rebound from a 2% decrease recorded in April.

The residential sector increased 0.9% to $14.4 billion in May, while the non-residential sector rose 0.6% to $6.4 billion, Statistics Canada said in a statement.

Monthly increases were recorded in five of the 13 provinces during the month of May, led by Quebec with an increase of $178.3 million to $2.9 billion, and Alberta with a gain of $26.3 million to $1.8 billion, it added.

Investment in single family homes across Canada, on the other hand, fell 1.3% to $6.8 billion in May, marking the second monthly decline in a row; but multi-unit family investment was up 2.9% to $7.6 billion, according to the agency.