Economics

Strong Canadian Economic Growth in Q4 and January

Posted on Mar 04, 2021 in Economics

Canadian Economic Growth - Vancouver Real EstateThis morning's Stats Canada release showed that economic growth in the final quarter of last year was a surprisingly strong 9.6% (annualized). The surge in growth in January was even more interesting, estimated at a 0.5% (not annualized) pace. If these numbers pan out, it means that Canada did not suffer a contraction during the second wave and ens...

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Canadian Real GDP Growth (Q4'2020)

Posted on Mar 04, 2021 in Economics

GDP Growth - Vancouver Real EstateThe Canadian economy expanded at a 9.6 per cent annual rate in the fourth quarter of 2020. Growth was led by increased government spending, business investment and investment in new home construction and renovations as well as a large change in business inventories as large drawdowns of inventory from previous quarters reversed. For 2020 as a whole...

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Canadian Inflation (January 2021)

Posted on Feb 17, 2021 in Economics

Vancouver Real Estate Inflation RateCanadian inflation, as measured by the Consumer Price Index (CPI) rose by 1.0% in January year-over-year. The increase was largely due to higher gasoline prices (6.1%). Excluding gasoline, the CPI rose by 1.3%, which is up from 1.0% in December. Prices rose in seven of eight components year-over-year in January. Growth in the Bank of Canada's three...

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Canadian Unemployment - January 2021

Posted on Feb 07, 2021 in Economics

Canada Employment Numbers January 2019Canadian employment lost 213k jobs in January (-1.2%, m/m), representing the second consecutive decline since April 2020. This left the employment level 4.5% below its February 2020 pre-pandemic level. The decline was once again led by part-time employment, while full-time positions continued to see improvements in January. Job losses were concentr...

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Canadian Monthly Real GDP (November 2020)

Posted on Jan 30, 2021 in Economics

Canadian GDP - Vancouver Real EstateCanadian real GDP grew by 0.7% in November, following a 0.4% increase in the previous month. This is the seventh consecutive monthly gain since the steepest drops in Canadian history was observed in March and April. This brings GDP 3% below the February pre-pandemic level of output. Fourteen of the twenty industries reported an increase in output...

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Canadian Housing Starts (December 2020)

Posted on Jan 18, 2021 in Economics

BC Housing Starts - Vancouver Real EstateCanadian housing starts decreased by 12.6% m/m to 228,279 units in December at a seasonally adjusted annual rate (SAAR), following a strong increase of 14% in the previous month. Housing starts decreased in 8 of 10 provinces with the largest decline in Manitoba (-40.5%). Building activity declined in both the single-detached (-6.2%) and multi-unit...

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