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BCREA ECONOMICS NOW

Canadian Monthly GDP - September 30, 2015

The Canadian economy grew faster than expected in July with output expanding by 0.3 per cent on a monthly basis. Growth in real GDP, as measured at the industry level, was led by gains in the mining, oil and gas sectors as well as rising output in the manufacturing and finance and insurance sectors. 
Solid economic growth in July comes on the heels of very strong growth in June and generally encouraging economic data since the beginning of summer. July's GDP data also signals a high likelihood that third quarter economic growth will not just be positive, therefore breaking a string of two straight down quarters, but will register a fairly robust 2.5 per cent. 

“Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.
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BCREA ECONOMICS NOW

Canadian Retail Sales - September 23, 2015

In a further sign that the Canadian economy is recovering, Canadian retail sales rose 0.5 per cent in July, the third consecutive monthly increase. On a year-over-year basis, sales were up 1.8 per cent. Retail sales were higher in 6 of 11 retail sub-sectors with sales of motor vehicles and clothing leading the way.  In BC, retail sales dipped 0.4 per cent on a monthly basis but were up 5.7 per cent compared to July 2014.


Consumer spending continues to be the main driver of economic growth in Canada, though weakness in the loonie is helping export growth. Canadian real GDP is currently tracking at between 2 and 2.5 per cent in the third quarter which would mean an end to the "technical" recession experienced over the first half of the year. 



Copyright British Columbia Real Estate Association

The British Columbia Real Estate Association (BCREA) is the professional association for more than 18,500 REALTORS® in...
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