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Authors of the Pomerleau Economic Radar: Jean-François Perras, Adm.A., ECCQ, Lead, Economic and Statistical Expertise – Building (left), and Sean Boyer, P.Eng., PQS, Vice President of Preconstruction – Building (right)
As the construction sector navigates a period marked by economic fluctuations and industry pressures, Pomerleau offers a new strategic perspective on the market. Published quarterly, the Pomerleau Economic Radar provides a clear and rigorous analysis of the economic signals influencing construction decisions across the country. This report stands out as an essential tool for building with confidence, resilience, and economic intelligence.
About the Authors
The Pomerleau Economic Radar is the result of work by two recognized experts in their field. Sean Boyer, P.Eng., PQS, Vice President of Preconstruction – Building, leverages his on-the-ground experience to guide national preconstruction strategies. His operational insight connects economic data to the real-world realities of projects and the broader construction industry.
Alongside him, Jean-François Perras, Adm.A., ECCQ, Lead, Economic and Statistical Expertise – Building, ensures the analytical rigour of the report. With his expertise in applied economics within the construction sector, he structures data to extract relevant and actionable trends.
Supported by their colleagues, they offer a comprehensive and insightful view of the market landscape.
Why an Economic Radar?
In response to growing interest from our partners, colleagues, and clients, Pomerleau has enhanced its economic report and broadened its distribution. The Economic Radar aims to anticipate challenges, adjust forecasts, and seize the best opportunities. It is intended for both industry professionals and public and private decision-makers who want to build on solid foundations.
Economic and industry trends in 2025
Early 2025 confirms that the construction sector remains at the centre of economic, social, and industry tensions. While global supply chains are beginning to stabilize, commodity prices are rising again. This could put pressure on construction costs, making agility and vigilance more necessary than ever.
Key indicators from the Economic Radar Q2 2025
Material price trends
The second-quarter report shows strong increases across several commodities. Lumber is up 39%, hot-rolled steel is up 30%, and cobalt is up 22%. These increases may affect budgets for both residential and non-residential projects.
Building permits: a mixed picture
The value of building permits fell 15.9% in the residential sector in Q2, while non-residential permits rose 13.6% compared to Q1. This reflects contrasting dynamics between the two market segments, influenced by investment patterns and regional priorities.
Construction labour market
The labour market remains tight. The unemployed-to-job-vacancies ratio has reached 3.0, indicating increased pressure on human resources. In construction, this ratio is slightly lower than the one observed across all industries, suggesting even stronger labour market pressure in this sector, with fewer unemployed workers available per job vacancy.
Regional focus: Montreal, Quebec City, and London
The largest increases in the Building Construction Price Index (BCPI) are seen in Montreal, Quebec City, and London. These cities show stronger regional inflation, particularly for non-residential buildings and residential towers of five storeys and up. This trend underscores the importance of regional economic monitoring for better project planning.
Toward a better understanding of the market
This report is more than a simple data compilation. It offers a true framework for anticipating challenges, guiding projects, and strengthening our industry’s adaptability. In a constantly changing environment, understanding economic signals is essential.
The Pomerleau Economic Radar is designed as a strategic tool to inform choices, steer projects, and build a sustainable future. Explore the full analysis to better understand market trends and make informed decisions.
