Q1 2021 Canada Construction Monitor
Market activity continues to increase but supply-side issues emerging
Feedback from participants in the Q1 2021 RICS-CIQS Canada Construction Monitor indicates that the construction market recovery has gained momentum to start the year. The Construction Activity Index (CAI) rose to +32 in Q1 from +19 in Q4 pointing to a continued expansion in market activity. This also represents a similar reading prior to the COVID pandemic (+31 in Q4 of 2019), though it would appear that the current gains are spread much more equitably across companies of different sizes than they were prior to COVID.
- Construction market remains firmly on recovery footing
- However shortages of materials, labour stand to weigh on activity moving forward
- COVID’s impact on market expected to persist in medium-term