Investment in building construction edges down again in November
Total investment in Alberta over the first 11 months of the year was $19.5 billion
By ATB Economics 12 January 2021 1 min read
Seasonally adjusted investment in building construction in Alberta declined for the third straight month in November. Investment fell by just 0.3 per cent ($6.0 million) compared to October, but was down by 2.7 per cent ($51.3 million) on a year-over-year basis.
Total investment over the first 11 months of the year was $19.5 billion, down 5.3 per cent ($1.1 billion) compared to the same period in 2019.
Buoyed by multiple dwelling construction, residential investment was up 1.4 per cent ($174.5 million) over the first 11 months of the year.
Year-to-date non-residential construction, however, was down 15.7 per cent ($1.3 billion).
Nationally, investment also declined for the third month in a row, slipping slightly in November by 0.1 per cent ($8.5 million). Year-to-date investment was off by 2.7 per cent ($4.4 billion).
Both residential (-3.4 per cent) and non-residential (-1.1 per cent) investment in Canada was lower in 2020 than over the same period in 2019.
Year-to-date investment was lower in 6 of the 10 provinces, with Saskatchewan down the most at 18.9 per cent followed by a drop of 8.8 per cent in British Columbia.
Answer to the previous trivia question: Between 1976 and 2020, the lowest annual unemployment rate in Alberta occurred in 2006 and 2007 when the rate averaged 3.5 per cent.
Today’s trivia question: What is the tallest building in Alberta?