Tough times ahead for B.C. construction industry: economist

B.C.'s construction industry can expect tough times ahead despite nearly $175 billion worth of project inventory this year, an economist says.

The provincial government released figures Monday, listing 863 projects that were planned or underway between July and September.

That is the 21st consecutive quarter where there has been an increase in major projects, said Ida Chong, B.C.'s minister for technology, trade and economic development.

"This is a good indicator for others looking to have projects planned or underway here in British Columbia that it is still a great place to have construction," she said.

But the chief economist for the Central 1 Credit Union said the inventory is dated.

"It is a lagging indication of B.C.'s economy, of where it has come from, and not its future strength," Helmut Pastrick told CBC News.

"The market conditions [and] the economic outlook will mean many of these projects will not start anytime soon," he said.

The latest inventory includes several major condo developments in the Lower Mainland that have ground to a halt, he said.

"The construction industry is headed for a poor year in 2009 and likely 2010 as well," Pastrick said.

The B.C. and Yukon Building and Construction Trades Council said its members have seen signs of weakness in the building sector.

Some projects have been put on hold while others remain in the planning stage, said Wayne Peppard, the council's executive director.

Some workers are also expecting fewer job opportunities after years of steady employment, he said.