Saskatchewan Setting the Pace in Building Construction

Released on December 18, 2023

Province a Leader in the Nation in Year-Over-Year Growth

New figures released by Statistics Canada rank Saskatchewan second for year-over-year and month-over-month growth in investment in building construction for October 2023 (seasonally adjusted). 

"Saskatchewan's economy continues to thrive, as shown by the current surge in building construction investment," Trade and Export Development Minister Jeremy Harrison said. "Our stable business environment, competitive incentives, and personalized support continue to provide opportunities for the investors, companies and communities that contribute to the success of our province."

Investment in building construction was up 24.7 per cent in October 2023, when compared to October 2022, far outpacing the national average of -5.5 per cent. Numbers were also up 9.5 per cent month over month from September 2023 to October 2023. These were the second highest percentages in the nation.

In total, $493 million was invested in building construction in October 2023.

This comes in the wake of the positive numbers that were published last month which indicated that $450 million had been invested in building construction in September 2023. There was further good news for the province on the construction front, with recent data indicating that urban housing starts in Saskatchewan were up 108.2 per cent in November 2023, when compared to November 2022 (unadjusted). This ranks second in the nation.

Investment in building construction represents the value of spending on buildings in the province.

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