Canadian Residential Building Investment Down 21%
Canadian investment in residential home construction retraced some of the ground lost, but is far from recovered. Investment came in at $7.83 billion in May, up 85.7% from a month before. Despite the big jump this number is still 21.4% lower than the same month last year. The April it’s being compared to was the lowest month for investment in at least 10 years. Not surprising to see investment bounce higher, but it’s still missing about a fifth of monthly activity.