By Rajitha Sivakumaran
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T
he year 2015 was marked by a criti-
cal decline in the number of residen-
tial construction projects underway
in Saskatchewan. Commercial construc-
tion, on the other hand, experienced a
measured growth and exceeded past per-
formances. The interconnectedness of the
marketplace, however, ensures that busi-
ness pursues a cyclical path, which is the
predominant reason why Saskatchewan’s
construction industry is currently facing a
downturn.
The economy inWestern Canada has been
slower than usual mainly because of chang-
ing commodity prices; oil and natural gas
prices have dropped significantly over the
last two years. In Saskatchewan, potash,
one of the province’s chief commodities,
has taken a similar downward turn along-
side uranium. In these cases, commodity
prices have fallen from record levels.
2
business elite canada
H
JUNE 2016
