Investment in the building construction industry declined by 20pc to C$36.3bn ($27.5bn) in Q2 2020 compared to the previous quarter because of the COVID-19 pandemic’s impact on the construction industry, according to a Statistics Canada report.

 

However, investment in the industry rose by 12pc in June to C$14.9bn following a 62.2pc increase in May, because construction activity returned to normal after the COVID-19-induced lockdowns ended.

 

Investment in residential construction in Q2 2020 declined by 24.5pc to C$23bn from a quarter earlier, while residential construction investment in June alone rose by 12.2pc to C$9.4bn from a month earlier, StatCan reported. 

 

Investment in non-residential construction decreased by 10.7pc on a quarterly basis to C$13.4bn in Q2 2020, however, investment the sector increased in June by 11.6pc to C$5.5bn from May. 

 

C$1 = $0.76

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