Economic Activity: Doug Porter

Doug Porter: The proportion of the economy related to construction is more than twice as high in Canada as it is in the U.S. , Porter said in a client note this week. Of all the economic activity in Canada, 13.4 per cent is related to construction, compared to 5.8 per cent for the U.S, according to Huffington Post. But whats so bad about having a lot of construction jobs? For Porter and some other economists, the worry is that the present rate of building is unsustainable, and when the industry gets back to normal, there will be job losses and All those construction cranes dotting the Toronto skyline might be evidence of an economy that has a serious problem, writes BMO Capital Markets chief economist Doug Porter. This is simply the most glaring example of how Canadas unbalanced monetary policy rates too low, currency too high is affecting the economy. Note that in the 1990s, when the currency was too low and rates were too high, construction wallowed for a decade, Porter wrote. (www.immigrantscanada.com). As reported in the news.