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Non-residential construction spending up

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Local developers ramped up their spending on non-residential construction projects in the third quarter after taking a bit of a breather in the previous three months, new Statistics Canada figures show.

The agency said $385 million was spent during the third quarter on industrial, commercial, and institutional (government-related) construction projects in the province.

Not only was that a 4.6 per cent increase from the previous quarter, when $368 million was spent, it was up a hefty 14.8 per cent from the third quarter of 2012.

The quarter-to-quarter increase followed a 0.8 per cent dip in spending in Q2.

The biggest boost in spending (percentage wise) from Q2 to Q3 was on institutional projects — up 10 per cent to $122 billion. That was followed by spending on industrial projects — up 3.5 per cent to $60 million — and spending on commercial projects — up two per cent to $203 million.

Nationally, non-residential construction spending rose by 4.4 per cent to $13 billion in the third quarter from $12.5 billion in Q2. The increase followed a 2.7 per cent decline from the first to second quarters.

The year-over-year increase for Canada was 2.7 per cent.

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