Building construction, February 2024
The following information was released on April 19, 2024. Relevant portions have been highlighted below, and for full details from this dataset, please click here.
Monthly (February 2024 vs January 2024, seasonally adjusted)
Investment in Nova Scotia building construction increased 2.6% in February 2024 to $515.5 million.
- Halifax monthly building construction rose 12.8% to $262.5 million
- Outside of Halifax building construction was down 6.2% to $253.0 million.
Nova Scotia’s non-residential building construction increased 1.5% to $90.2 million.
- In Halifax, non-residential construction was down 0.1% to $54.5 million.
- Outside of Halifax, non-residential construction was up 4.0% to $35.8 million.
Year-to-date (January-February 2024 vs January-February 2023)
Compared to January-February 2023, building construction investment was up 23.9% in Nova Scotia.
- Halifax construction activity was up 25.1%
- Outside of Halifax construction activity was up 22.8%.
Trends
- Building construction has trended up over recent years, particularly from rising residential investment. Residential investment (and therefore total investment) exhibits peaks and troughs around a rising trend.
- Non-residential investment has been on a more gradual increasing trend, primarily from investments in Halifax.
- Halifax commercial building construction had been on increasing trend since the end of 2021 and reached at its peak in recent months.
- Industrial and government/institutional construction have been increasing in Halifax.
- In recent months, there has been growth in commercial, industrial, and government/institutional building construction outside the city.