The July Canadian edition of The Monitor, a monthly analysis of trends in the construction and cement industries published by the Portland Cement Association, reports that the Canadian economy as well as the Canadian construction markets have held up reasonable well. The steady performance is significant considering the impact due to SARS, mad cow disease and weakened U.S. economic activity.

PCA expects a favorable mortgage rate will continue to provide support for housing activity. Nonresidential permit activity appears to be gaining some stability and momentum. Industrial construction activity is running 16 percent above last year’s levels, yet there are some inflationary concerns.

Key statistics from the July Canadian edition of The Monitor:

• Portland cement consumption declined 2.2 percent in April; year-to-date consumption is up 0.6 percent.
• Masonry cement consumption slipped 4.6 percent in April against last year’s level; year-to-date consumption is down 3.9 percent, with all provinces in decline.
• Cement exports declined by 12.9 percent in April; through February, year-to-date exports are down nearly 6 percent.
• Urban housing starts declined 5.4 in May from April levels; nonresidential construction permits declined 6.2 percent in May; industrial construction permits increased by 8.4 percent.

Reflecting on data from several government-issued reports, The Monitor breaks down national economic trends, reports on cement consumption, and provides an in-depth analysis of construction activity for the residential, commercial, and public sectors.