FMI Corporation is pleased to announce the release of its North American Overview with Canada Construction Outlook, including the following highlights:
- Total 2018 construction spending for put-in-place vs. forecasted growth
- Put-in-place spend forecast through 2022
- Forecast growth by segment
- Valuable insights from FMI executives on how to navigate the next 12 months
Overall, Canada’s construction industry has as many positive indicators as it does question marks. In 2019, as several challenges are worked out both home and abroad, we should start to see a clearer indication of things to come. For now, it’s time to take advantage of the opportunities that exist, assess your future options and build resiliency in your organization when the demands are not so acute.
In general, we expect total construction spending across Canada to continue this long-term, inflation rate-matching pattern of growth. Although this does not provide the excitement of the double-digit expansion of the early and mid-2000s, considering several of the potential economic disruptors—from higher interest rates to slumping oil prices and trade uncertainty—a 3% Compound Annual Growth Rate (CAGR) seems welcome.
FMI’s key advice for 2019 is: “Keep calm, stay focused and get ahead of the next downturn.”
Chris Daum, FMI’s CEO, states, “Now is the time to get proactive with conversations and planning around lessons learned from the last downturn and ‘recession-proof’ your company. While the last recession was historic in scale and duration, the next downturn will likely look very different. Still, through good preparation, companies can take the lessons they (or their predecessors) learned from the last recession and use them to avoid repeating any costly mistakes.”
Access the 2019 Canadian Construction Outlook then watch the on-demand webinar, Transformation at the Top of the Cycle: Expectations for the 2019 Canadian Construction Industry, featuring Jay Bowman, Director of Research and Analytics and Michael Kulchisky, Managing Director in Canada, as they discuss the content of the Outlook and recommendations for positioning your organization for success in the coming year.