b'File name: CG3004_Contractor Surety Ad_4.583x9.5_4C Client: TRISURASize: Custom Created: June 12, 2019Trim: 4.583 W x 9.5 H Modied: January 28, 2021 5:08 PMColour Mode: CMYK Resolution: at least 300 DPIMARKET PERFORMANCEInvestment in technology and productivity is seen as a key driver of industry recovery and company growth coming out of COVID. T&Ts report concerning productivity noted, A recent study found that approximately 8.7 per cent of hours available on projects to do productive work are lost due to mitigation requirements such as PPE management, cleaning and disinfection, access restrictions and extra administration time. Productivity growth in the recovery seems essential considering the industry is falling further behind.Another wild card is construction starts. Experts seem to agree that 2021 will see growth to recover losses in 2020. The question is how much growth and what variables will be in play in the next year? Forecasted growth varies between a slow steady recovery and BTYs forecast of 33 per cent growth in starts nationally from $60 billion in 2020 to $80 billion in 2021. The outlook is positive for all segments with multifamily residential, industrial, and engineering and roadwork seeing the strongest upticks. Office and retail will have flatter recoveries, states BTY. Infrastructure will be one of the top performers because of government stimulus spending and mega projects in Ontario, B.C. and Quebec. The pandemic is the overriding wild card. The strength of the economic recovery will depend on managing COVID and, as BTY reported, achievingand surpassing Constructing pre-2020 construction activity levels still depends on a robust economic recovery supported by a speedy, successful andsurety solutions sustained vaccine rollout.An important factor is the ability of Ontarioevery dayand Canada to achieve widespread distribution of the vaccine. For example, BDCs forecasts state that if significant vaccine distribution starts this summer, economic growth could reach 4.5 per centDiscover our commercial, and return to the pre-COVID economy in early 2022. If distribution is delayed intocontract and developer surety the fall, the growth number will be four per cent and full recovery will not occur untilproducts at www.trisura.com.late 2022.In 2021, it appears the industry will begin to recover losses from 2020, but by how much is difficult to predict with any certainty. In this time of almost daily change, predictions are a moving target. However, it is a certainty that COVIDa step abovemanagement will continue to have a significant effect on progress towards economic recovery in 2021.BUILDERSDIGEST Quarter 1 202127'