News Release - January 15, 2010
NON-RESIDENTIAL CONSTRUCTION HIT RECORD LEVELS IN 2009
Statistics Canada released investment figures today for non-residential construction that show Saskatchewan had the highest percentage increase in the nation in the fourth quarter of 2009, up 17.8 per cent over the same period of 2008 (seasonally-unadjusted). Nationally, non-residential construction was down by 7.9 per cent.
In the fourth-quarter of 2009, non-residential construction investment totalled $402.8 million, well-above the $342 million recorded in the fourth-quarter of 2008.
"The economy in Saskatchewan has maintained momentum and strength in the face of monumental economic change," Advanced Education, Employment and Labour Minister Rob Norris said. "Investment in non-residential construction is a good indicator of overall economic attitudes, and we are in very good shape in comparison to what is happening in other provinces."
On an annual basis, there was $1.5 billion in non-residential construction in 2009 in the province, up from $1.19 billion in 2008. This represents an all-time high since figures began reporting in 1997. Saskatchewan had the second highest percentage increase among the provinces on an annual comparison.
"The annual totals for non-residential construction are solid when you look at the economy in 2009," Norris said. "This definitely supports the case for more positive news in 2010."
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