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Construction

A brilliant June for the Canadian construction industry

Jul 12, 2002
A brilliant June for the Canadian construction industry The residential construction sector in Canada is doing much better than expected: in June alone, new residential construction projects touched the level of 202,100 units (adjusted seasonal value), over the 194,200 units predicted by industry analysts, with a slight slowdown compared to May.
The data was published by in its monthly report by the Canada Mortgage and Housing Corp. (CMHC), the major Canadian residential construction industry association. May registered 203,000 units under construction, thus confirming a very positive trend which has been underway since the start of the year.
According to the CMHC's market survey department, the positive trend in the industry is due to a number of factors including low mortgage interest rates, the creation of new jobs, high consumer morale, and the small number of uninhabited houses.

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