Despite economic turbulence and trade tensions, Canada’s construction sector is showing signs of resilience. According to the Canadian Construction Association – Association canadienne de la construction’s latest Construction Quarterly Economic Insights, the industry continues to hold steady, thanks to a strong ICIC sector and a tentative housing rebound in multi-dwelling construction.
Key insights:
– Industry output rose 0.22% this quarter, up 1.52% YOY
– Building material inflation is cooling at the production level
– A record $50B federal construction plan could boost the sector’s output by 5% annually
What’s ahead? A complex but promising path fuelled by government spending, slacking labour markets, and a push for faster approvals and prefabrication.
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