The forecast for construction output in Canada indicates a steady increase from 2024 to 2028, with values anticipated to rise from CAD 14.25 billion to CAD 14.96 billion. Looking back at 2023, the construction output provides a baseline for the forecasted growth. Year-on-year growth rates suggest a stable increase of approximately 1.26% to 1.24% annually over the forecast period.
This consistent growth trend is indicative of a healthy market environment for the construction industry, likely supported by policy stability and ongoing investment. The five-year compound annual growth rate (CAGR) across this period offers insight into sustained sector expansion. Potential factors influencing future trends:
- Government infrastructure investments
- Urbanization and housing demand
- Technological advancements in construction
- Impact of environmental sustainability initiatives
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