Economic Archives - constructconnect.com

Aecon profits rise but fall short of expectations

Daily Commercial News — Fri, 07 Mar 2025 11:15:28 +0000

TORONTO — Aecon Group Inc. is reporting a quarterly profit boost of 44 per cent year-over-year, but the big earnings increase failed to match analysts’ expectations. The construction contractor says income attributable to shareholders rose to $14.0 million in the quarter ended Dec. 31 from $9.7 million in the same period a year earlier. Aecon […]

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CHBA study reveals housing affordability worsened because of municipal delays

Daily Commercial News — Fri, 07 Mar 2025 09:05:13 +0000

OTTAWA — The Canadian Homebuilders’ Association (CHBA) has released its 2024 Municipal Benchmarking Study, which reveals an across-the-country look at housing affordability challenges and what provinces are doing better than others. In particular, the study examines how local development processes, approvals and charges impact housing affordability and housing supply in major housing markets. It benchmarks […]

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Architects say Trump’s tariffs ‘blows a complete hole’ in continental trade agreement

Daily Commercial News — Thu, 06 Mar 2025 13:42:35 +0000

WASHINGTON — The Canadian and Mexican architects of the ��ϳԹ��-U.S.-Mexico Agreement say Donald Trump’s trade war has crossed a line that essentially wipes out the continental trade pact, as experts suggest the president’s actions are meant to rattle America’s closest neighbours ahead of a mandatory review. ��ϳԹ��’s chief negotiator, Steve Verheul, and Mexico’s chief negotiator, […]

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Built Prefab expands housing solutions portfolio with Lake Country Modular acquisition

Daily Commercial News — Thu, 06 Mar 2025 12:05:00 +0000

KELOWNA, B.C. — Built Prefab, a modular housing provider, has announced the acquisition of Lake Country Modular. This strategic acquisition significantly enhances Built Prefab’s product offerings, enabling it to deliver more move-in-ready housing options and innovative solutions to meet the growing demand across Western ��ϳԹ��, explains the company in a release. Both companies will maintain […]

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No compromise on tariffs, Ontario Premier Doug Ford says

Daily Commercial News — Wed, 05 Mar 2025 19:59:39 +0000

TORONTO — Ontario Premier Doug Ford says he and Prime Minister Justin Trudeau are on the same page with a position that ��ϳԹ�� will not be compromising on tariffs. He suggests ��ϳԹ�� will not be removing any of its retaliatory tariffs unless all American tariffs are removed. His comments come one day after U.S. President […]

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ConstructConnect chief economist offers construction perspective on tariffs

Daily Commercial News — Wed, 05 Mar 2025 18:34:04 +0000

President Trump announced on Thursday last week that a 25% tariff on goods from Mexico and ��ϳԹ�� will be implemented on March 4. He also warned of an extra 10% tariff on Chinese imports, set to begin on the same date. This move is part of the broader Trump administration’s strategy to address issues such […]

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Trump tells Congress tariffs benefit U.S. as commerce secretary floats idea of deal

Daily Commercial News — Wed, 05 Mar 2025 13:49:25 +0000

WASHINGTON — A day into Donald Trump’s North American trade war, the U.S. president remained adamant that tariffs would benefit America even as a key member of his team has floated that a compromise could materialize Wednesday. Trump addressed a joint session of Congress Tuesday night, for the first time since he returned to office […]

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Deadline for Trump’s tariffs passes with no relent; ��ϳԹ�� counters in response

Daily Commercial News — Tue, 04 Mar 2025 13:23:46 +0000

WASHINGTON — Canadians are waking up to a new and uncertain reality after U.S. President Donald Trump’s deadline for economy-wide tariffs passed with no relent overnight, triggering a continental trade war. The president’s executive order hitting ��ϳԹ�� and Mexico with 25 per cent across-the-board tariffs, with a lower 10 per cent levy on Canadian energy, […]

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Buildex industry panel undertakes ‘constructive’ conversation on B.C.’s political landscape

Daily Commercial News — Mon, 03 Mar 2025 12:15:22 +0000

Industry and political experts see a series of challenges on the way for the British Columbia construction industry from both within the province and over the border. Vancouver Regional Construction Association president Jeannine Martin moderated a panel of construction experts and political thinkers at a session at Buildex Vancouver titled Constructive Conversations: What B.C.’s new […]

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Economy grew at 2.6% annualized rate in final quarter of 2024, StatCan says

Daily Commercial News — Mon, 03 Mar 2025 11:15:02 +0000

OTTAWA — The Canadian economy outpaced expectations in the final quarter of the year, Statistics ��ϳԹ�� said recently, thanks largely to a surge in household spending. Real gross domestic product rose 2.6 per cent on an annualized basis in the fourth quarter, the agency said. That’s well above calls from the consensus of economists polled […]

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Will persistent inflation and rising costs overwhelm a pro-growth political agenda?

Daily Commercial News — Mon, 03 Mar 2025 11:10:01 +0000

Construction got off to a weak start in 2025, with January’s total starts spending falling more than 30% year-on-year (YoY). Monthly Construction Starts spending since November has been unusually weak, totalling just $186 billion. The last time a three-month period reported such a lackluster total was in February 2022. Historically, February marks a seasonal low point in starts spending each […]

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Confusion and consternation in the U.S. job market cauldron

Daily Commercial News — Mon, 03 Mar 2025 11:05:01 +0000

In the months to come, there is going to be a great deal of confusion and consternation as to what is happening in the U.S. jobs market. In January, total employment in the economy rose by 143,000 positions, according to the Employment Situation report published by the Bureau of Labor Statistics (BLS). While being still a positive figure, […]

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