ICIC Construction sector quarterly insights Q4 2023
This report was prepared by the Canadian Construction Association (CCA) to provide an overview of the last quarter, the current economic health of the industry, and its implications for member businesses.
Highlights:
- Economic deceleration impact: The Canadian economy experienced a slowdown in the last quarter of 2023,
influenced by tight monetary policy, with growth decelerating to a mere 0.1 per cent increase. - Construction sector trends: Although construction faced a 0.7 per cent decline in total activity in Q4 2023,
the industry saw positive movements in residential and non-residential sectors with increases of 1.3 per cent
and 1.6 per cent, respectively.