April 29, 2009
Low interest rates may not boost privately financed construction in 2009
Despite historically low interest rates, privately financed construction will be depressed well into 2010, says CanaData chief economist Alex Carrick. He believes falling corporate profits, weak product demand and the credit squeeze are all contributing to the cyclical malaise.
He expects public sector investment demand will fill in part of the gap. But how effective this investment will be depends on success in resolving three issues.
- There must be effective co-ordination of financing between two and sometimes three levels of government: federal, provincial and municipal.
- Shelf-ready work does not always mean what it implies. There may still be delays for some of these projects based on neighbourhood impact and environmental studies.
- Some local governments will initiate projects without being sure that the funding will come through. Therefore, they are likely to give priority to work that has already been planned or is absolutely essential. This is not the long-term forward-planning intent of the federal and provincial government programs.
Alex Carrick discusses these issues in more detail and construction costs, regional issues and U.S. protectionism in Major Issues Facing Canada’s Construction Industry to the End of this Year.
What the latest U.S., Canada GDP numbers mean for the recovery
New gross domestic product figures for the U.S. and Canada are strong, says CanaData chief economist Alex Carrick. But what do they say about the state of economic recovery in both countries?
Government should be more flexible with stimulus project deadline, outgoing ORBA president says
Stimulus infrastructure spending would have a greater impact if government were more flexible with its March 2011 deadline for projects to be completed, says the past-president of the Ontario Road Builders’ Association.
McGuinty: We can’t take our foot off ‘public dollar gas pedal’ too quickly
The province must be careful how quickly it “takes (its) foot off the public dollar gas pedal,” Premier Dalton McGuinty told the Ontario Road Builders’ Association during the group’s annual convention in Toronto Feb. 1.
Ontario creates panel to review occupational health and safety
The creation of a provincial panel to look at occupational health and safety prevention will bring a necessary focus on Ontario workplace fatalities, says a provincial building trades official.
Canadian Construction Association summit zeroes in on industry concerns
When the Canadian Construction Association (CCA) decided to host a summit on the future of the non-residential sector, identifying key industry concerns was front and centre on the agenda.
Building energy dashboards show tenants’ resource consumption
Energy dashboards, which allow building operators and tenants to monitor and manage their resource consumption in real time via the web, offer an innovative and effective way to ensure sustainability.
Commercial building industry has undergone 'significant evolution:' BOMA
The Canadian commercial building industry has undergone a significant evolution in its efforts to make buildings perform better, says an executive with the national Building Owners and Managers Association (BOMA).
Industry must change its approach to operating commercial buildings: Canada Green Building Council
If Canada continues with a "business as usual" approach to managing commercial buildings, it will result in a 39 per cent increase in energy consumption, and an additional 26 megatons of carbon dioxide released into the atmosphere by 2030, warns the chair of the Canada Green Building Council.
'Now is the time to start moving toward BIM'
Building Information Modeling offers design professionals an unprecedented opportunity to work in a collaborative environment, particularly when stakeholders are separated by distance and location, says a building-software company executive.
