Economics

Canadian Quarterly Real GDP Q3 - 2020

Posted on Dec 01, 2020 in Economics

Vancouver Real Estate - GDP SpendingFollowing a record contraction of the Canadian economy in the first half of 2020, the third quarter saw a vigorous rebound in economic growth. Real GDP was up 8.9 per cent in the third quarter, or 40.5 per cent on an annualized basis, bringing the economy back to about 5 per cent of its pre-COVID-19 level. Household spending rebounded, rising 13 pe...

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Commercial Activity Rebounded in Q3 2020

Posted on Dec 01, 2020 in Economics

Commercial Lending - Real EstateThe BCREA Commercial Leading Indicator (CLI) rebounded in the third quarter of 2020 from 122.3 to 136.9, representing the first increase after four consecutive quarterly declines. It was the largest increase in the indicator since the start of the CLI series in 1999, reflecting a recovery from a significant drop in the first half of 2020, due to st...

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Canadian Retail Sales (September 2020)

Posted on Nov 22, 2020 in Economics

BC Retail Sales - September 2020Retail sales rose for the fifth consecutive month in September by 1.1% on a seasonally-adjusted basis, which is higher than Statistic Canada's preliminary estimate of no change. Sales were up in 9 of 11 subsectors, representing 93.2% of retail sales. The increase was led by higher sales at auto dealers. General merchandise stores increased for the...

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Canadian Inflation (October 2020)

Posted on Nov 18, 2020 in Economics

Change in CPI & Inflation - Vancouver Real EstateCanadian inflation, as measured by the Consumer Price Index (CPI) rose by 0.7% in October year-over-year, up from the previous month's increase of 0.5%. Excluding gasoline, the CPI rose by 1.1%. Prices rose in five of eight components year-over-year in October, with food contributing the most to the increase due to rising prices for lettuce as a re...

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Canadian Housing Starts (October 2020)

Posted on Nov 17, 2020 in Economics

BC Housing Starts - Vancouver Real EstateCanadian housing starts increased by 3% m/m to 214,875 units in October at a seasonally adjusted annual rate (SAAR), following a decline in September. Housing starts increased in 6 of 10 provinces with strong gains in Manitoba and Alberta. Building activity gained momentum in the single-detached segment, while multi-unit starts declined slightly. O...

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Canadian Employment (October 2020)

Posted on Nov 08, 2020 in Economics

Canadian Job Numbers October 2020Canadian employment gained 84k jobs in October (0.5%, m/m), following a gain of 378k in September. This is the sixth consecutive month of increases, putting national employment within 636k of its pre-COVID February level. The national unemployment rate was little changed at 8.9%, as some provinces reinstated containment measures targeted at restaur...

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