Economic Archives - constructconnect.com

Habitat for Humanity housing survey highlights Canada’s deepening housing crisis

Daily Commercial News — Fri, 22 Nov 2024 11:00:59 +0000

TORONTO — Habitat for Humanity Canada’s third annual Affordable Housing Survey reveals the vast majority of Canadians (84 per cent) now say buying a home feels like a luxury and 88 per cent of renters say the goal of owning a home in Canada has become out of reach. This year’s survey looks at the broader implications of […]

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AtkinsRéalis wins contract to build two new Candu reactors in Romania

Daily Commercial News — Thu, 21 Nov 2024 11:00:49 +0000

MONTREAL — AtkinsRéalis Group Inc. has announced a deal to build two new Candu nuclear reactors in Romania. The company says the new reactors will be the first new Candu reactors to be built since 2007. They will be constructed at the Cernavoda nuclear generating station, which is already home to two Candu reactors. Candu […]

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AtkinsRéalis touts ‘nuclear prowess’ amid record backlog, reports Q3 revenue up

Daily Commercial News — Tue, 19 Nov 2024 12:00:53 +0000

TORONTO — AtkinsRéalis Group Inc. continued to tout its nuclear business as one of the keys to its growth strategy amid a record-high backlog last quarter. The engineering services firm says its services backlog stood at $16.84 billion as of Sept. 30, representing a 34.7 per cent increase from $12.50 billion a year earlier. The […]

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8,000 visitors anticipated for the 2025 Canadian Concrete Expo in Mississauga

Daily Commercial News — Tue, 19 Nov 2024 09:05:45 +0000

Even before pre-registration opened on Nov. 15, the Canadian Concrete Expo (CCE) was predicting approximately 8,000 visitors will attend its seventh annual event this coming Feb. 12 and 13 at the International Centre in Mississauga, Ont. Billed as Canada’s only national trade show dedicated to the concrete, construction and aggregate industries, it will feature a […]

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CHBA reports homebuilder sentiment continues to decline across Canada

Daily Commercial News — Mon, 18 Nov 2024 12:05:16 +0000

OTTAWA — Ontario and B.C. were highlighted as areas with particularly dire circumstances when it comes to builder sentiment in the third quarter, according to the Canadian Home Builders’ Association (CHBA) 2024 Q3 Housing Market Index (HMI). The single-family HMI recorded a score of 27.4, which is down 2.5 from last quarter. The multi-family HMI […]

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RESCON report warns the future is dire for housing starts in Ontario

Daily Commercial News — Thu, 14 Nov 2024 11:15:53 +0000

VAUGHAN, ONT. — The future is not looking bright for housing starts in Ontario, a new report from the Residential Construction Council of Ontario (RESCON) finds. Starts over the next few years will likely weaken and the already-dire supply shortage could get even worse, a release states, adding employment in new residential construction has peaked […]

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Arup opens fourth Canadian office in Ottawa

Daily Commercial News — Thu, 14 Nov 2024 11:05:06 +0000

OTTAWA – Arup, a global design, advisory and engineering firm, has opened an office in Ottawa, expanding its presence beyond its three other offices in Toronto, Montreal and Calgary. Arup has worked in the Ottawa region since the firm’s arrival in Canada in 2000. It all started with planning and design work for the Ottawa […]

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RioCan cuts nearly 10 per cent of staff in efficiency push as condo market slows

Daily Commercial News — Wed, 13 Nov 2024 11:15:35 +0000

TORONTO — RioCan Real Estate Investment Trust says it has cut almost 10 per cent of its staff as it deals with a slowdown in the condo market and overall pushes for greater efficiency. The company says the cuts, which amount to around 60 employees based on its last annual filing, will mean about $9 […]

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‘More of the same’: Jobless rate holds steady at 6.5% in October amid weak hiring

Daily Commercial News — Wed, 13 Nov 2024 11:05:19 +0000

OTTAWA — Canada’s unemployment rate held steady at 6.5 per cent last month as hiring remained weak across the economy. Statistics Canada’s labour force survey said employment rose by a modest 15,000 jobs in October. Business, building and support services saw the largest gain in employment. Meanwhile, finance, insurance, real estate, rental and leasing experienced […]

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Greater Toronto home sales jump in October after Bank of Canada rate cuts: board

Daily Commercial News — Tue, 12 Nov 2024 11:00:21 +0000

TORONTO — The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates. The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up […]

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Where are the U.S. construction spending dollars coming from?

Daily Commercial News — Tue, 12 Nov 2024 09:05:28 +0000

Construction industry analysts are often asked about the breakdown of construction dollars spent by the private sector versus the public sector. The Census Bureau’s monthly report makes that question easy to answer. August’s put-in-place construction spending report for the U.S. from the Census Bureau says that the total dollar volume is +7.6% versus the first […]

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Pembina Pipeline seeing increased interest from potential Cedar LNG suppliers: CEO

Daily Commercial News — Fri, 08 Nov 2024 13:58:51 +0000

CALGARY — Pembina Pipeline Corp. says it has seen an uptick in interest from potential long-term contracted natural gas suppliers since making a firm decision to go ahead with the Cedar LNG project. The Calgary-based pipeline company and its project partner, the Haisla First Nation, green-lit the US$4-billion facility in June. Pembina CEO Scott Burrows […]

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