Posted on December 18, 2023
Leading province at the national level in growth year after year
New figures released by Statistics Canada place Saskatchewan second in year-over-year and month-over-month growth in building construction investment by October 2023 (seasonally adjusted).
"Saskatchewan's economy continues to thrive, as evidenced by the current increase in investment in building construction," said Minister of Trade and Export Development Jeremy Harrison. "Our stable business environment, competitive incentives and personalized support continue to provide opportunities for investors, businesses and communities that contribute to the success of our province."
Investment in building construction increased by 24.7 percent in October 2023, compared to October 2022, far exceeding the national average of -5.5 percent. The numbers also increased by 9.5 percent month over month from September 2023 to October 2023. These were the second highest percentages in the country.
In total, in October 2023, $493 million were invested in the construction of buildings.
This follows positive figures released last month, which indicated that $450 million had been invested in building construction by September 2023. There was more good news for the province on the construction front, with recent data indicating that urban housing is being started. in Saskatchewan increased 108.2 per cent in November 2023, compared to November 2022 (unadjusted). This ranks second nationally.
Investment in building construction represents the value of spending on buildings in the province.
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For more information contact:
Daniel Kemp
Trade and export development
regina
Phone: 306-519-5006
Email: daniel.kemp2@gov.sk.ca
Cell: 306-519-5006
