Submitted. Small public sector gains not enough to offset declines in commercial and industrial spending in Abbotsford
Non-residential construction investment in the Abbotsford CMA saw a decline in the first quarter of 2013, according to Vancouver Regional Construction Association’s analysis of Statistics Canada’s Investment in Non-Residential Building Construction report.
“Total non-residential building construction spending in the first quarter of 2013 was down in Abbotsford,” says Jan Robinson, interim president of the Vancouver Regional Construction Association (VRCA). While there was a bump in public spending, spending on industrial buildings remains at a low level, and commercial spending continues to trend down with no major proposed projects showing for the area to replace the large Mt. Lehman project.”
“The 2013 outlook is generally positive, but dependent on improving economic and market conditions, with public spending looking to rise, commercial spending likely to fall, while the industrial sector looks to be range-bound in 2013,” says Robinson.
Total non-residential building construction investment spending in Abbotsford dropped 8.3 per cent to $43.6 million (seasonally adjusted) in the first quarter of 2013, compared to $47.5 million in the fourth quarter of 2012. Commercial construction investment dropped 19.3 per cent to $22.7 million, while institutional-government spending was up 13.5 per cent to $16.8 million and industrial building investment slid 11.2 per cent lower to $4.0 million.
Metro Vancouver saw a four per cent rise in total non-residential building construction investment in the first quarter of 2013 to $885 million seasonally adjusted, from $851.1 million in the fourth quarter of 2012.
Highlights from the first quarter 2013 Investment in Non-residential Building Construction report:
Abbotsford Census Metropolitan Area (CMA)
- Non-residential building construction investment dropped 8.3 per cent to $43.6 million seasonally adjusted in the first quarter 2013 from $47.5 million in the fourth quarter of 2012.
– Commercial building spending declined 19.3 per cent to $22.7 million.
– Industrial building investment slid 11.2 per cent to $4.0 million.
– Institutional-governmental building investment rose 13.5 per cent to $16.8 million.
Q1 2013 compared to Q1 2012
- Total non-residential building construction investment spending dropped 27.6 per cent to $43.3 million in first quarter 2012 compared to $59.8 million in fourth quarter 2012.
– Commercial building investment spending fell 45.9 per cent to $22.5 million.
– Industrial building investment spending dropped 34.6 per cent to $4.0 million.
-Institutional-government spending was up 38.8 per cent to $16.8 million.
With close to 700 members, VRCA is British Columbia’s largest and most inclusive regional construction association, representing union and non-union, general and trade contracting companies, manufacturers, suppliers and other professionals throughout the Lower Mainland from Hope to Whistler.