Investment in Vancouver’s non-residential building sector climbed 6.4% in the third quarter of 2010, according to Statistics Canada data released Monday.
The agency said investment reached $580 million during the third quarter compared with $545 million in the second.
Non-residential building construction includes industrial, institutional and commercial projects.
The good news about investment continued across the province in the third quarter.
Investment in B.C.’s non-residential building sector was up 0.5% to approximately $1.1 billion in the third quarter when compared with the second.
Statistics Canada said the increase was felt across the country as investors sunk $10.4 billion into the sector during the third quarter, representing a 2.9% increase from the second quarter and the third consecutive quarterly gain.
The increase, the agency said, was mostly a result of higher spending on commercial and industrial buildings.
But the numbers are not as rosy if they are compared year-over-year.
In Vancouver, investment in non-residential construction was down 9.6% in the third quarter when compared with the same period in 2009, which saw $642 million in investment.
The same can be said for the province as a whole, which saw investment drop 4.2% during the third quarter when compared with the 2009’s third quarter.