Business

Non-residential construction drops in 2013 in CMA

With no major projects moving forward in the near future, Abbotsford’s non-residential construction investment declined in the fourth quarter of 2013.

The Abbotsford census metropolitan area ended the year down 25.6 per cent from 2012, according to the Vancouver Regional Construction Association’s (VCRA) analysis of a Statistics Canada report.

The VCRA predicts no immediate turnaround because the area currently has no large projects scheduled for construction.

Total non-residential building construction investment spending in Abbotsford decreased 19.8 per cent to $33.2 million in the fourth quarter of 2013, compared to $41.4 million in the third quarter of 2013.

Commercial construction investment dropped 23.9 per cent to $12.3 million, while institutional-government spending fell 12.6 per cent to $17 million and industrial building investment decreased 32.6 per cent to $3.9 million.

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