August 11, 2016
The composite price index for apartment building construction rose 0.6% in the second quarter compared with the previous quarter. This increase resulted from higher material prices and labour costs.
Of the seven census metropolitan areas surveyed, Vancouver (+1.4%) reported the largest gain, followed by Toronto (+1.2%). Calgary (-1.6%) and Edmonton (-1.6%) recorded the only decreases.
Year over year, the composite price index for apartment building construction rose 0.7%. The largest increase was in Toronto (+2.4%), followed by Montreal (+1.1%). The year-over-year advances were moderated by declines in Calgary (-2.0%), Edmonton (-1.8%) and Vancouver (-0.1%).
The Apartment Building Construction Price Index is a quarterly series that measures changes in contractors' selling prices of new apartment building construction in seven census metropolitan areas: Halifax, Montreal, Ottawa–Gatineau (Ontario part), Toronto, Calgary, Edmonton and Vancouver.
Selling prices include costs of materials, labour and equipment, provincial sales taxes where applicable, and contractors' overhead and profit. The costs of land, land assembly, design and development, as well as real estate fees, are excluded. Value added taxes such as the federal goods and services tax and the harmonized sales tax are excluded.
Table 1: Apartment Building Construction Price Index — Not Seasonally Adjusted
Source: Statistics Canada www.statcan.gc.ca/daily-quotidien/160809/dq160809b-eng.htm.
With Liteline Head coach Steve Silverstein behind the bench, the team at Liteline recently took to the ice in a Toronto hockey tournament to support an annual charity event Skate for Sarah, raising money for SickKids, One Match and JCC Chai Sports.
By using the avenue of hockey and the Skate for Sarah tournament, the JCCs of Greater Toronto, along with sponsors, supporters like Liteline and friends will raise funds and awareness for some great causes.
For the past couple of years the industrial segment has been “challenged.” Much of this was driven by the decline in the oil and gas market, which had a significant ripple effect. Concurrently, a strong U.S. dollar hurt exports for many OEMs and the agriculture market was soft, further hurting that segment’s equipment market.
Overall, the industrial decline significantly impacted distributors and manufacturers. And a key product category, industrial automation and control, was the most impacted.
But according to manufacturers and distributors in many parts of North America, the industrial market appears to be turning. Growth, compared to last year, is coming back. Some is due to increased investment in energy projects.