Q3 2020: Construction Survey Report
Expectations pick-up despite Covid fears
Respondents to the Q3 2020 RICS/CIQS Canada Construction Monitor were more upbeat both about the current picture and the outlook despite signs that the economic recovery is flagging in the face of an upsurge in new Covid cases. Significantly, the Bank of Canada has responded to more challenging macro picture by signalling that interest rates will remain at current lows until the inflation target of 2% is ‘sustainably achieved’. On the Bank’s analysis, this does not occur until 2023.
- Workloads rebound in Q3 led by infrastructure;
- Expectations return to positive territory in all sectors;
- Profit margins still expected to remain under some pressure.