The July Canadian edition of PCA's The Monitor reported that the Canadian economy as well as the Canadian construction markets have held up reasonably well. The steady performance is significant considering the impact due to SARS, mad cow disease, and weakened U.S. economic activity.

PCA expects a favorable mortgage rate will continue to provide support for housing activity. Nonresidential permit activity appears to be gaining some stability and momentum. Industrial construction activity is running 16% ahead of last year's levels, yet there are some inflammatory concerns.

Key statistics from the July Canadian edition of The Monitor include:

• Portland cement consumption declined 2.2% in April; year-to-date consumption is up 0.6%.

• Masonry cement consumption slipped 4.6% in April against last year's level; year-to-date consumption is down 3.9%, with all provinces in decline.

• Cement exports declined 12.9% in April; through February, year-to-date exports are down nearly 6%.

• Urban housing starts declined 5.4% in May from April levels; nonresidential construction permits declined 6.2% in May; industrial construction permits increased 8.4%.