Industrial Construction in Canada Down 40%
MARKHAM, ON-Though Canada's industrial construction levels have fallen from last year's rates, they are projected to surge back upward next year and take an even bigger leap in 2011, according to the newest bi-monthly report from CanaData, a division of Reed Construction Data.
While only 4 million square feet of new industrial projects are expected to go into construction this year, compared to
6.6 million square feet of actual construction last year and 6.8 million square feet in '07, the company forecasts the total will jump to 6 million square feet next year and 8 million square feet two years from now.
CanaData says builders in Canada are expected to break ground on 50 million square feet of non-residential construction this year,. The projection is down 7.5% from the 54 million-square-foot estimate given in March and down 31% from the actual 72.1 million square feet of construction in 2008. The most recent cyclical peak was 92.1 million square feet in '07. The company attributes the decline to weak product demand, falling corporate profits and tight credit.
While only 4 million square feet of new industrial projects are expected to go into construction this year, compared to
6.6 million square feet of actual construction last year and 6.8 million square feet in '07, the company forecasts the total will jump to 6 million square feet next year and 8 million square feet two years from now.CanaData says builders in Canada are expected to break ground on 50 million square feet of non-residential construction this year,. The projection is down 7.5% from the 54 million-square-foot estimate given in March and down 31% from the actual 72.1 million square feet of construction in 2008. The most recent cyclical peak was 92.1 million square feet in '07. The company attributes the decline to weak product demand, falling corporate profits and tight credit.
source: John McCloud
It may be from recession because after that many people have become aware that industrial construction can be expensive in recession times. I see the same scenario in other developing countries but they overcome it in quite a less time. I would like to suggest to go in the improvement you have to solve out all the builder-worker matter, only then Canada can reestablish in industrial construction.
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