The Council of Ontario Construction Association (COCA) said the construction sector will not be the much anticipated “panacea” for the Ontario and Canadian economies.
The slow thawing of financial liquidity “will give rise to a fragile and unstable recovery marked by sharp swings as investments return to the markets,” said COCA in its June newsletter. Stable growth will only result if governments deliver on promised infrastructure stimulus funding.
The 2009 construction season is a “missed opportunity” for government and the two-year emergency stimulus window has been reduced to one. The government's pledge was to create new skilled jobs during tough times, while renewing infrastructure to pave the way for an eventual economic recovery.
“Now all we can do is wait to see if anything close to these commitments materializes.”
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