Investment in building construction fell in June as multi-unit projects pulled back. Meanwhile, World Cup crowds helped transit ridership snap a 13-month decline, and the United States suspended its planned duties on Canadian goods until 22 August.
Investment in building construction fell 0.5 per cent to 23.2 billion dollars in June, held down by a 1.9 per cent drop in multi-unit residential work. Residential investment overall fell 0.6 per cent to 16.1 billion dollars, while single-family projects rose 0.9 per cent to 7.5 billion dollars. Non-residential investment eased 0.1 per cent to 7.1 billion dollars.[1]
Urban transit carried 129.0 million passenger trips in June, 3.3 per cent more than a year earlier and the first year-over-year increase after 13 consecutive months of decline. The extra 4.1 million trips came alongside the FIFA World Cup. Operating revenue excluding subsidies rose 6.8 per cent, or 22.1 million dollars, to 345.8 million dollars.[2]
A proclamation signed on 18 August delays until 22 August the additional duties the United States had been set to impose on Canadian alcoholic beverages, dairy and motor vehicles, after Canada said it would remove the practices behind them. The duties were authorised at a level not to exceed 50 per cent ad valorem and were due to take effect on 19 August.[3]
