Economics

Canadian Housing Starts (November 2020)

Posted on Dec 20, 2020 in Economics

Canadian Real Estate Housing StartsCanadian housing starts increased by 14% m/m to 246,033 units in November at a seasonally adjusted annual rate (SAAR), following an increase in the previous month. Housing starts increased in 9 of 10 provinces with the strongest gains in BC and the Atlantic. Building activity in the multi-unit segment rebounded after two consecutive months of decli...

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Canadian Retail Sales (October 2020)

Posted on Dec 20, 2020 in Economics

Canadian Retail Sales - October 2020Retail sales rose for the sixth consecutive month in October by 0.4% on a seasonally-adjusted basis, which is higher than Statistic Canada's preliminary estimate of no change. Sales were up in 6 of 11 subsectors, representing 50.9% of retail sales. The increase was led by higher sales at auto and parts dealers. Compared to the same time last year...

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Canadian Inflation - November 2020

Posted on Dec 16, 2020 in Economics

Canadian Inflation - November 2020Canadian inflation, as measured by the Consumer Price Index (CPI) rose by 1.0% in November year-over-year. This is the largest increase since the pandemic started in March. Excluding gasoline, the CPI rose by 1.4%. Prices rose in six of eight components year-over-year in November, with the recreation, education, and reading index contributing the m...

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Canadian Employment Numbers (November 2020)

Posted on Dec 06, 2020 in Economics

Job Numbers - November 2020Canadian employment gained 62k jobs in November (0.3%, m/m), increasing in Ontario, BC, and the Atlantic provinces. This is the seventh consecutive month of increases, putting national employment within 574k of its pre-COVID February level. The national unemployment rate decreased by 0.4 percentage points to 8.5%, continuing the steady fall from th...

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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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