Canada’s construction industry shows remarkable strength
The Canadian Construction Association (CAA) releases their quarterly report exhibiting resilience and growth. Despite concerns around rising costs, labor shortages and evolving trade policies, the report showed the construction industry grew 0.24%.
“Canada’s construction industry continues to show remarkable resilience — but that is not without its challenges,” said Rodrigue Gilbert, CCA’s president. “We need coordinated trade, procurement, and investment policies that make it easier to build, not harder.”
New home construction in Canada greatly rebounded in September, with housing starts rising 14% from the previous month. This figure is an ongoing sign of Canada’s rebounding strength and priority of residential building.
Additionally, the Canadian Mortgage and Housing Corporation (CMHC) reported a seasonally adjusted annualized rate (SAAR) of 279,234 units, up from a revised 244,543 in August.This increase is even larger than what economists predicted of 255,000 units.
