Economic Archives - constructconnect.com

U.S. and Canadian Rate Cuts Brighten Ontario’s Way Forward

Sharon Gough — Fri, 06 Sep 2024 13:46:58 +0000

Hiring cools in province but remains in positive territory Last fall, when we overviewed Ontario’s economic outlook, we noted that while some forward-looking economic indicators were flashing amber, few were flashing red (i.e., indicating a sharp contraction). A year later, although there are a few bright spots, the outlook for Ontario remains clouded. For example, […]

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Global Market Scan: Falling profits of key heavy machinery players

Lindsey Cole — Fri, 06 Sep 2024 11:05:05 +0000

Overall, the global construction industry has a mixed forecast for the rest of 2024. According to the Atradius Group, global construction activity this year will likely increase by 2.2% in developing countries and by 1.8% in developed countries. However, major heavy machinery manufacturers Caterpillar and Komatsu expect declining profits compared to 2023. Large-scale government spending and private […]

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AtkinsRealis appoints Marcotte, Shakir to board

Journal of Commerce — Fri, 06 Sep 2024 05:00:36 +0000

AtkinsRealis Group has announced the appointment of two new independent directors to its board of directors. Nathalie Marcotte and Sam Shakir will join the board effective Sept. 3. The board now has 11 members. Marcotte is president of the global industrial process automation business at Schneider Electric SE, overseeing operations and customer relations worldwide. Schneider […]

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B.C. will stand up to ‘unfair’ duties after sawmill closures: Forests minister

Journal of Commerce — Thu, 05 Sep 2024 17:23:50 +0000

British Columbia’s forests minister says the province will fight against “unfair duties and stand up for forestry workers” after Canfor Corp. announced the closure of two northern B.C. sawmills, partly blaming “punitive” U.S. tariffs imposed last month. Bruce Ralston says the U.S. Department of Commerce’s decision to increase punishing softwood lumber duties, on top of […]

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FedDev Ontario gives boost to manufacturing sites

Sharon Gough — Thu, 05 Sep 2024 08:43:50 +0000

LONDON, ONT. – Local manufacturers and supply chains in southwestern Ontario are getting a boost from FedDev Ontario. The announcement was made by Bryan May, Parliamentary Secretary to the Minister for Small Business and to the Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario); Arielle Kayabaga, MP for London West; […]

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U.S. construction employment rises in two-thirds of jurisdictions July-to-July

Journal of Commerce — Thu, 05 Sep 2024 05:00:46 +0000

ARLINGTON, VA. – Construction employment rose in 232, or 65 per cent, of 358 metro areas between July 2023 and July 2024, according to an analysis by the Associated General Contractors of America of new government employment data. Association officials noted that their latest workforce survey shows contractors are still eager to hire more employees […]

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ATCO Structures closes NRB Limited acquisition

Journal of Commerce — Wed, 04 Sep 2024 05:00:56 +0000

CALGARY, ALTA. – ATCO Structures and Logistics Ltd. has closed its previously announced acquisition of NRB Limited, a Canadian manufacturer of modular industrial, educational and residential buildings. The purchase from Dexterra Group Inc. was for $40 million in cash and was subject to normal closing adjustments and conditions, including final authorization of the Canadian Competition […]

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CHBA index finds builder sentiment still negative

Sharon Gough — Tue, 03 Sep 2024 08:32:59 +0000

OTTAWA – The recently released Canadian Home Builders’ Association (CHBA) 2024 Q2 Housing Market Index (HMI) found home builder sentiment is negative for the eighth consecutive quarter and is even lower than Q1 across key regions of the country. The HMI is a sentiment indicator that assesses current selling conditions, expectations for selling conditions over the […]

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Small firms endured 508 days of construction-related disruptions over five years: CFIB

Daily Commercial News — Wed, 28 Aug 2024 08:10:25 +0000

TORONTO —Nearly seven in 10 (68 per cent) small businesses have experienced disruptions due to local construction projects in the past five years, finds a new report by the Canadian Federation of Independent Business (CFIB). The numbers represent a 27-per-cent increase since 2018 said the report, titled Hard Hats and Hard Times: Public Construction Impacts […]

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Housing push needs both private sector participation and regulatory stability: Developer

Journal of Commerce — Tue, 27 Aug 2024 05:00:32 +0000

A leading Vancouver developer has put out an appeal to lessen risk and regulatory hurdles to make housing happen. Vancouver-based Wesgroup Properties recently released a video called Housing Crisis 101: Why Homes Don’t Just Happen, which puts forth its views on bottlenecks keeping Canada from building more housing at a rapid pace. The video has […]

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North Vancouver, Squamish homes protected through Rental Protection Fund

Journal of Commerce — Tue, 27 Aug 2024 05:00:29 +0000

NORTH VANCOUVER – British Columbia’s Rental Protection Fund has protected 75 affordable rental homes in Squamish and North Vancouver. The properties were acquired by non-profit organizations with contributions from the fund and are part of nearly 1,500 homes protected through since its launch in 2023, with thousands more under consideration, a release said. The fund […]

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WZMH Architects launches new software for engineers and architects

Daily Commercial News — Mon, 26 Aug 2024 10:00:10 +0000

TORONTO — WZMH Architects has launched Giraffe, an independently owned software company dedicated to “revolutionizing” the architectural-engineering-construction sectors. Giraffe draws on WZMH’s expertise but operates as a separate entity with its own software suite designed to enhance efficiency, sustainability and collaboration in building design and construction. It integrates practical architectural and construction knowledge with advanced […]

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