Articles tagged with "Forecast"

Residential electricity rates have increased by 6.6% compared to the previous year as gas prices rise. The price impact varied across different sectors, according to the U.S. Energy Information Administration. This indicates an uneven distribution of price hikes in electricity across various consumer segments.

A report from the Mechanical Contractors Association of Canada highlights the significant contribution of mechanical contractors to the Canadian economy, injecting over $30 billion into the GDP while employing more than 205,000 workers. The report, titled 'Building Canada Now: The Economic Impact of Mechanical Contracting in Canada,' was commissioned by the association to showcase the sector's economic importance.

In August, housing starts in Canada's major markets rose 10% compared to the previous year, as reported by the CMHC. However, a monthly decline was observed with the seasonally adjusted annual rate (SAAR) of housing starts for Canada falling 16% from July 2025. The slowdown aligns with forecasts, with Vancouver and Montreal showing significant yearly gains. Despite this, rural housing starts decreased 4% year-over-year.

The article discusses a recent quarter-point interest rate reduction which has been welcomed by construction firms. While this cut provides a boost in confidence that may particularly benefit private projects, it is not expected to significantly increase overall construction activity.

A study by the Observatoire québécois des inégalités, alongside several public health departments, reveals that the housing crisis in Quebec costs the economy 4.2 billion dollars. Titled 'The Collective Cost of the Housing Crisis in Quebec,' the report presents alarming findings that demand attention. The housing crisis affects not only the economy but also various facets of social and community life.

The report from Cushman & Wakefield highlights that the average vacancy for commercial office space in Canada was 17.2% in the second quarter of 2025. This figure, although slightly better than the previous year, still surpasses pre-COVID levels, despite the increasing momentum of the return-to-office movement. The article explores the feasibility of converting these vacant offices into residential spaces as a potential solution.

The One Delisle condo tower, currently under construction in Toronto, is set to become a significant addition to the city's skyline. The building starts with a boxy shape at the ground level and tapers into a fluted circle at the top. Recently, lighting tests were conducted on the exterior, previewing its future as a local landmark. The project is documented by UrbanToronto, which also offers research services and development tracking in the Greater Golden Horseshoe area.

In August, Canada's housing starts fell by 16% from the previous month, indicating a slowdown in construction activity, according to the Canada Mortgage and Housing Corporation (CMHC). Despite rises in some regions, overall trends show a decrease, particularly in key markets like Toronto and Vancouver. Factors contributing to this slowdown include rising construction costs and decreased builder confidence, notably in Ontario and British Columbia. Regions like Montreal and Calgary are seeing growth or are expected to experience high activity in 2025.

The Canada Mortgage and Housing Corporation reported a 16% decrease in the annual pace of housing starts in August compared to July. This decline indicates a slowdown in home building activity. The data highlights broader trends in the residential construction sector.

As Canada prepares to establish a new agency aimed at accelerating home construction, internal documents from the government highlight the severe housing crisis in the country. These briefing materials, specifically intended for the new Housing Minister Gregor Robertson, highlight how expensive housing is detrimentally impacting the economy. The documents underscore the urgency of addressing the housing situation to mitigate its economic repercussions.

In July, the total value of building permits in Canada slightly decreased by 0.1% to $11.9 billion, according to Statistics Canada. The decline was primarily due to a significant drop in the non-residential sector, which fell by 5.8%. However, this was nearly offset by a rise in the residential sector. Despite the overall decrease, the residential market showed positive growth.

The article discusses the upcoming interest rate announcement from the Bank of Canada, considering the current economic conditions such as job losses and high unemployment rate. Economists from major banks like TD, RBC, CIBC, BMO, and Scotiabank weigh in on the likelihood of a rate cut, with many expecting a 25 basis points reduction. Economic data and Consumer Price Index readings will play a crucial role in the decision. Forecasts vary, but there is consensus on the possibility of further cuts this year due to economic uncertainties.