Investment in building construction edges down again in November
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?
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