Construction hangs on to growth as new orders rebound
AI Article Summary
Construction output rose by 0.2% in September owing to a 0.7% increase in new work, despite a 0.5% decline in repair and maintenance. New orders surged by nearly 10% over the quarter, driven by rebounds in private commercial and industrial projects. However, investor confidence remains fragile, and housing continues to act as a drag on growth. Industry experts hope for government investments in infrastructure and policy changes to boost the sector.
What This Means for Canadian Contractors
For Canadian builders, this means paying close attention to trends in new work compared to repair and maintenance services. The increase in new commercial and industrial projects could signal potential opportunities for expanding portfolios. Moreover, as fiscal policies play a significant role, Canadian contractors might advocate for similar government initiatives to boost infrastructure investment and housing reforms.
