Highlights from Building Construction (March 2022)
The following was shared by the Finance and Treasury Board on May 17, 2022. To find more information and national stats, view the full release here.
Investment in Nova Scotia building construction increased 0.8% in March 2022 (seasonally adjusted) compared to February 2022.
- Halifax monthly building construction decreased 5.7% in March 2022 and outside of Halifax building construction increased 8.4%.
- Nationally, investment in building construction increased 1.8% in March 2022.
Compared to January-March 2021, building construction investment was up 39.0% in Nova Scotia.
- Outside of Halifax construction activity was up 47.8% and Halifax construction activity was up 32.2%.
- National building construction investment was up 12.0% with eight provinces reporting increases and Newfoundland and Labrador and Saskatchewan reporting declines.
- The largest increases from January-March 2021 to January-March 2022 were reported in Nova Scotia and Manitoba.
Total Nova Scotia building construction investment was $506.8 million in March 2022.
- Halifax building construction totaled $256.6 million in March 2022 and outside of Halifax building construction was $250.2 million.
In March 2022, non-residential building construction increased 2.3% to $67.8 million in Nova Scotia (seasonally adjusted).
- In Halifax, non-residential construction was up 5.7% to $39.9 million.
- Outside of Halifax, non-residential construction was down 2.2% to $27.9 million.
- In January-March 2022, the increase in Nova Scotia non-residential building construction was due to higher investment in commercial and industrial investment in Halifax, as well as higher institutional/government investment outside of Halifax.