Canadian Construction Association

Canadian Construction Association
Construction Sector Council

Construction Sector Council

December 18, 2007 09:00 ET

Canadian Construction Industry to Experience Similar Performance in 2008 as 2007; Leveling Off Expected in 2009

OTTAWA, ONTARIO--(Marketwire - Dec. 18, 2007) - The construction industry in Canada is set to continue another year of strong growth, according to an economic forecast report released today jointly by the Canadian Construction Association (CCA) and the Construction Sector Council (CSC). This report is based on the construction outlook prepared by the CSC as part of its 2007 Labour Market Information program.

According to the forecast data, the overall construction industry in Canada will post a growth rate of 3.5 percent by the end of 2007. For 2008, the forecast suggests the industry will grow by 3.1 percent. However, some differences emerge between the residential and non-residential construction markets. It is expected that investment in the non-residential construction market will have grown by an impressive 7.9 percent in 2007, whereas the residential construction market will level off compared to previous years, slowing down by 2.4 percent compared to 2006. The same trend will be evident in 2008 - investment in the non-residential sector is expected to grow by 5 percent, and by 0.3 percent in the residential sector.

The data suggest that construction activity will begin to soften in 2009 and 2010. By 2009, the overall industry will grow by only 1.7 percent, and that for the first time in over a decade, the industry growth will slow to 0.1 percent in 2010. In 2009, non-residential construction will grow by 3.1 percent, while residential construction growth flattens out to 0.4 percent. By 2010, the non-residential construction sector will experience a year-over-year slow down of 0.5 percent, while residential construction will remain fixed at 0.3 percent growth.

Earlier this year, the Construction Sector Council unveiled a new online forecast delivery website that enables users to customize their searches for economic and employment forecast information by province and regions. This new tool can be found at www.constructionforecasts.ca. A summary of the national forecast report can be found at http://www.cca-acc.com/factsheet/factsheet.html.

Contact Information

  • Canadian Construction Association
    Jeff Morrison
    Director of Government Relations and Public Affairs
    613-236-9455 (office)
    jeff@cca-acc.com
    or
    Construction Sector Council
    Rosemary Sparks
    Senior Director of Planning and Development
    613-569-5552 (office)
    sparks@csc-ca.org