Statistics Canada’s May GDP report shows construction industry made third straight monthly gain

0
796

The construction industry has recorded a third straight month of growth, as seen in Statistics Canada’s release of May data. The construction sector as a whole was up 0.9 per cent over April’s numbers.

The growth is driven entirely by the residential construction sector, at a gain of 2.2 percent. It was residential construction’s greatest growth in over a year, with gains in double, row, and other multi-unit dwelling construction expanding. Engineering and other construction rose slightly, as did repair construction. Non-residential building activity actually dipped by 0.1 per cent.

Other areas experiencing growth were manufacturing, specifically motor vehicle production, which rebounded from temporary shutdowns in April. The transportation equipment manufacturing subsector increased by an impressive 5.7 per cent.

Canada’s GDP as a whole also rose for the third straight month, up 0.2 per cent over the previous month.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

I accept the Privacy Policy

This site uses Akismet to reduce spam. Learn how your comment data is processed.