Several of the obstacles that most construction companies in Canada expected to face in the three months following the third quarter of 2024 were related to costs and inflation. Nearly 43 percent of Canadian construction companies were worried about the rising cost of inputs. Recruiting skilled employees and other issues related to labor force shortages were also common.
Share of construction companies that expected the following obstacles in the next three months in Canada as of the 3rd quarter of 2024
Characteristic
Share of construction companies
Rising cost of inputs
42.8%
Rising interest rates and debt costs
37.2%
Cost of insurance
33.7%
Recruiting skilled employees
32.5%
Shortage of labor force
31.6%
Transportation costs
30.5%
Fluctuations in consumer demand
24.7%
Rising costs in real estate, leasing or property taxes
24.6%
Maintaining sufficient cash flow or managing debt
23.8%
Increasing competition
22.7%
Attracting new or returning customers
20.7%
Lack of financial resources
18.3%
Insufficient demand
16.1%
Difficulty acquiring inputs, products or supplies from within Canada
15.6%
Obtaining financing
13.3%
Regulatory constraints
9.7%
Difficulty acquiring inputs, products or supplies from abroad
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StatCan. (August 27, 2024). Share of construction companies that expected the following obstacles in the next three months in Canada as of the 3rd quarter of 2024 [Graph]. In Statista. Retrieved December 26, 2024, from https://www.statista.com/statistics/1499939/expected-obstacles-of-construction-companies-canada/
StatCan. "Share of construction companies that expected the following obstacles in the next three months in Canada as of the 3rd quarter of 2024." Chart. August 27, 2024. Statista. Accessed December 26, 2024. https://www.statista.com/statistics/1499939/expected-obstacles-of-construction-companies-canada/
StatCan. (2024). Share of construction companies that expected the following obstacles in the next three months in Canada as of the 3rd quarter of 2024. Statista. Statista Inc.. Accessed: December 26, 2024. https://www.statista.com/statistics/1499939/expected-obstacles-of-construction-companies-canada/
StatCan. "Share of Construction Companies That Expected The following Obstacles in The next Three Months in Canada as of The 3rd Quarter of 2024." Statista, Statista Inc., 27 Aug 2024, https://www.statista.com/statistics/1499939/expected-obstacles-of-construction-companies-canada/
StatCan, Share of construction companies that expected the following obstacles in the next three months in Canada as of the 3rd quarter of 2024 Statista, https://www.statista.com/statistics/1499939/expected-obstacles-of-construction-companies-canada/ (last visited December 26, 2024)
Share of construction companies that expected the following obstacles in the next three months in Canada as of the 3rd quarter of 2024 [Graph], StatCan, August 27, 2024. [Online]. Available: https://www.statista.com/statistics/1499939/expected-obstacles-of-construction-companies-canada/
