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Figure 18:
Provincial construction key economic indicators – movement (%) or index value where stated
British Columbia
Alberta
Saskatchewan
Manitoba
Consumer Price Index (CPI) - MoY
February 2026 - February 2025
1.7
1.8
1.6
2.0
Construction investment - constant prices
FY 2025 - FY 2024
1.5
-4.1
14.2
14.8
Value of building permits - constant prices
FY 2025 - FY 2024
8.6
11.2
8.1
-6.0
Housing starts - at annual rates
FY 2025 - FY 2024
-3.6
14.7
42.4
9.9
Construction unemployment rate
February 2026
5.6
9.6
9.4
6.7
Construction escalation
2026
1.5 - 2.5
2.5 - 3.5
3.5 - 4.5
3.0 - 4.0
Construction escalation
2027
3.0 - 4.0
2.5 - 3.5
4.5 - 5.5
4.0 - 5.0
Ontario
Quebec
Atlantic Canada
Consumer Price Index (CPI) - MoY
February 2026 - February 2025
1.3
2.8
1.6
Construction investment - constant prices
FY 2025 - FY 2024
2.8
12.8
8.1
Value of building permits - constant prices
FY 2025 - FY 2024
-10.5
-1.3
7.2
Housing starts - at annual rates
FY 2025 - FY 2024
-12.3
22.9
22.3
Construction unemployment rate
February 2026
6.7
11.0
14.6
Construction escalation
2026
1.0 - 2.0
2.5 - 3.5
2.5 - 4.5
Construction escalation
2027
3.5 - 4.5
3.5 - 4.5
2.5 - 4.5
Source: Bank of Canada, Canada Mortgage and Housing Corporation, Statistics Canada and Turner & Townsend.
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