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Industry Lens: Non-Residential Construction—December 2021 The Conference Board of Canada, December 3, 2021 Website by Robin Wiebe

Industry Lens: Non-Residential Construction—December 2021

The Conference Board of Canada, December 3, 2021
Website by Robin Wiebe

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This online report examines the short-and medium-term economic and profitability outlook for Canada’s non-residential construction industry. Document Highlights Non-residential construction output will shrink again in 2021, but post modest growth in 2022 and thereafter. The industry will not regain its pre-pandemic size until 2024. Construction prospects are best for factories and warehouses but less bright for office buildings and retail structures. Companies are already struggling to find workers and will find this increasingly challenging, as retirements rise and workforce entrant volumes are insufficient to fill this gap. Industry profit margins will remain modest through 2026 due to persistent cost increases and limited revenue gains.

This online report examines the short-and medium-term economic and profitability outlook for Canada’s non-residential construction industry.

Document Highlights

Non-residential construction output will shrink again in 2021, but post modest growth in 2022 and thereafter. The industry will not regain its pre-pandemic size until 2024.
Construction prospects are best for factories and warehouses but less bright for office buildings and retail structures.
Companies are already struggling to find workers and will find this increasingly challenging, as retirements rise and workforce entrant volumes are insufficient to fill this gap.
Industry profit margins will remain modest through 2026 due to persistent cost increases and limited revenue gains.

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