Positive outlook for Canada’s construction industry

By Adam Freill
On-Site Magazine
August 29, 2023
Category: Finance & Economics
Region: Canada

The latest commodity report from global construction consultant Linesight paints a picture of encouraging growth as Canada’s Real GDP exceeded expectations and job growth continued in Q1 2023. The company’s Q2 Canadian Country Commodity Report acknowledged that a decline in the residential sector contributed to a contraction in the construction industry, but suggested the industrial sector is poised for growth. The company cited the Canadian government’s commitment to establish Canada as an industrial hub, and investments in EVs, green hydrogen, metals and materials processing. …Key findings in the report include an expectation for the construction industry to shrink by 5.2 per cent in 2023. This is due to a significant decline in the residential sector, but… the construction sector is expected to rebound with 2.7 per cent growth anticipated between 2025 and 2027. 

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