Highlights from ‘Building Construction, May 2022’
The following statistics were released via Nova Scotia Department of Economics and Statistics on Thursday, July 14, 2022. See full details from this release here.
Month-Over-Month (May vs April 2022)
- Investment in Nova Scotia building construction increased 2.0% in May 2022 (seasonally adjusted) to $480.8 million.
- Halifax monthly building construction increased 3.5% to $246.5 million while outside of Halifax building construction increased 0.6% to $234.3 million.
- Nationally, investment in building construction decreased 0.2%.
- Nova Scotia’s non-residential building construction increased 2.5% to $70.2 million (seasonally adjusted).
- In Halifax, non-residential construction was up 4.5% to $41.5 million.
- Outside of Halifax, non-residential construction edged down 0.1% to $28.6 million.
- National non-residential building construction was down 0.9% in May 2022. Eight provinces reported increases, with the largest increase in New Brunswick. The largest decline was reported in Newfoundland and Labrador.
Year-to-Date (Jan – May 2021 vs 2022)
- Compared to January-May 2021, building construction investment was up 35.0% in Nova Scotia.
- Halifax construction activity was up 41.2% and outside of Halifax construction activity was up 29.0%.
- National building construction investment was up 9.9% with seven provinces reporting increases.
- Nova Scotia reported the largest increases in building construction investment from January-May 2021 to January-May 2022.
- Nova Scotia’s non-residential construction was up 33.3% year-to-date.
- Halifax’s non-residential construction rose 74.6%.
- Outside of Halifax, non-residential construction was up 1.0%.
- National non-residential construction investment increased 13.9% compared to January-May 2021.
- Six provinces reported increases, with the largest increases in Quebec and Nova Scotia. The largest declines were reported in Prince Edward Island and Newfoundland and Labrador.