Canadian Industrial Profile: Fabricated Metal Products—Summer 2018
The Conference Board of Canada, 2 pages,
August 2, 2018
This industry profile provides a five-year forecast for Canada’s fabricated metal products industry.
- Stronger Investment Is Good News for Fabricated Metals—After several years of contraction, non-residential construction turned a corner in 2017 and has increased in five consecutive quarters. Importantly, investment in new machinery and equipment has been a key driver of this trend, which has helped push up demand for fabricated metals.
- Record-Breaking Performance—Early in 2018, both current sales and new orders reached record levels, narrowly surpassing their pre-recession peaks by about $400 million each.
- Trade Retaliation—The U.S. administration continues to ramp up protectionist rhetoric, forcing Canadian policy-makers to retaliate in kind. Higher prices due to tariffs have thus far been easily passed on to consumers but are likely to weigh on medium-term demand as the impact of higher prices finally sets in.