Is Canada Due For A Reduced Spending Cycle?
Toronto, ON -- (SBWIRE) -- 03/18/2013 -- With the economy in Canada headed for a slow down after years of feverish building in the residential, condominium market and commercial industry over the past decade with low interest rates spurring growth in the building market. The industry seems to finally be headed for more moderate times, as the pace of building seems to have slowed overall in Canada.
Permits for commercial property projects have decreased in all provinces in Canada except for Saskatchewan, Manitoba, Labrador and Newfoundland. From the statistics it seems like there was a general slowdown in the construction of hotels, restaurants, retail outlets, office buildings and factories.
The decline is signaled by lower construction intentions as some see the Canadian economy as slowing down as a result of debt burden fueled by the housing market over the last few years. The debt burden on the Canadian economy has served as a double edge sword over the last decade for Canada. The debt fueled the growth of the economy for over the past decade of mortgages led to greater retail sales, which has created consumer demands in many household products, creating more business for the overall economy and spurring growth in other service industries such as restaurants.
Now with the increased amounts of debt that families have added to their balance sheets over the last decade, this has become a burden on the economy, forcing families to pay down debt instead of spending causing the economy to slow down overall.
This has led to a great opportunity for people in the repair business, as buildings are no longer being built the older buildings will need to be maintained better. Instead of demolishing an older building, the owners of the building will need to consider replacing the roof or doing other maintenance. Roofing companies such as Metro Roofing Inc. with over 35 years of experience in the roofing industry will stand to profit as businesses look to cut cost by fixing existing structures.
Metro Roofing Inc is positioned to help factories, apartment buildings and commercial roofing in Toronto better allocate their cost by helping businesses repair and maintain their existing roofing structures better instead of starting new buildings.
For more information visit
401 Richmond St W #382
Toronto, ON M5V 3A8
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-321-1250 (International)