Generous government spending to bolster Canadian economic growth in 2010
Ongoing federal and provincial fiscal stimulus will help offset weak growth in private sector investment next year, leading to economic growth of 2.9 per cent in 2010, according to the Conference Board’s Canadian Outlook-Autumn 2009. “Private spending is expected to remain sluggish through next year, so generous government spending will help bridge the gap in the short term. While the timing and size of the stimulus is an appropriate response to the recession, the debt now being piled up will constrain the policy choices of governments in the future” said Pedro Antunes, Director, National and Provincial Forecast. read more
Local governments may be overpaying for construction procurement, study says
Realistic and better structured construction contract procurement practices could save governments province-wide $1 billion, an industry study concludes. “There is a lot of infrastructure money being spent and as an industry we want to make sure that money goes as far as possible,” explains Andy Manahan, executive director of the Residential and Civil Construction Alliance of Ontario (RCCAO). read more
August GDP by industry - construction up slightly
Real gross domestic product decreased 0.1% in August after being unchanged in July. Construction advanced 0.2% in August, the first increase since October 2008. A rise in engineering and repair work eclipsed reductions in both new residential and non-residential building construction. Residential alterations and improvement work advanced. read more
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