Q4 Prices for Non-residential Building Construction Rose 0.8%

economy

February 22, 2018

Contractors’ prices for new non-residential building construction rose 0.8% in the fourth quarter. Higher prices to build industrial (+0.9%), commercial (+0.7%) and institutional (+0.9%) structures all contributed to the gain.

Prices for new non-residential building construction were up in all seven census metropolitan areas surveyed, led by Vancouver (+1.6%) and Montréal (+1.2%). Contractors reported rising costs for lumber, concrete formwork, plastic, copper and fuel-related inputs. Rebuilding activities in the United States after an active 2017 hurricane season contributed to higher prices for these materials. From August to October, four hurricanes made landfall in the United States causing widespread damage.

Non-residential Building Construction Price Index, year-over-year change

Over the four quarters ending in December, contractors’ prices for new non-residential building construction rose 3.1%. Higher prices in Vancouver (+5.9%) and Montréal (+4.4%) led the increase.

Source: Statistics Canada, http://www.statcan.gc.ca/daily-quotidien/180213/dq180213d-eng.htm

Photo source: Pexels

Related Articles

Changing Scene

  • EFC’s Business Sections Welcomes Matthew De Ciantis as New Field Service Vice Chair

    EFC’s Business Sections Welcomes Matthew De Ciantis as New Field Service Vice Chair

    EFC is pleased to announce Matthew De Ciantis, M&D of De Ciantis Enterprises Inc., as the new Vice Chair of the Field Service Business Section. Matthew is a long-standing professional in the electrical industry who fulfilled many roles within his generational family electrical contracting company. Matthew’s experience and breadth of operational knowledge has grown over… Read More…

  • EFC Welcomes NOARK Electric as a New Manufacturer Member

    EFC Welcomes NOARK Electric as a New Manufacturer Member

    Recently, EFC welcomed to the fold NOARK Electric, a global manufacturer of low, medium and high low voltage electrical components for industrial applications. They specialize in providing electrical circuit protection and motor control solutions for OEMs, contractors, and distributors. Dedicated to quality and value, their mission is to deliver top-tier products at exceptional price, backed… Read More…

Peers & Profiles

Copper US Dollar Price Per Pound