Economics

Canadian Retail Sales - July 2020

Posted on Sep 18, 2020 in Economics

BC Retail Sales - July 2020Retail sales rose for the third consecutive month in July by 0.6% on a seasonally-adjusted basis, close to Statistic Canada's preliminary estimate of 0.7%. This marks a deceleration from the 23% rise in June and a 21% rise in May, as stores were reopening. Sales were up in 6 of 11 subsectors, led by higher sales at auto dealers and at gas stations...

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Canadian Inflation (August 2020)

Posted on Sep 16, 2020 in Economics

Canadian Inflation - August 2020Canadian inflation, as measured by the Consumer Price Index (CPI) rose by 0.1% in August year-over-year, matching last month's increase. Excluding gasoline, the CPI rose by 0.6%. Prices rose in five of eight components year-over-year with notable increases in food, shelter, and personal care, while prices continued to fall for transportation, cloth...

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Canadian Housing Starts (August 2020)

Posted on Sep 09, 2020 in Economics

BC Construction StartsCanadian housing starts increased by 7% m/m to 262,396 units in August at a seasonally adjusted annual rate (SAAR). This represents the fourth consecutive monthly increase and the fastest pace of national homebuilding since 2007, pushing up the six-month average to 213,144 units SAAR. August's increase was driven primarily by the multi-units segmen...

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Canadian Employment (August 2020)

Posted on Sep 04, 2020 in Economics

Employment in BCCanadian employment gained 246,000 jobs in August (1.4%, m/m), following a gain of 419,000 in July. Combined with gains in May and June, national employment is now within 1.1 million of its pre-COVID February level. The national unemployment rate fell by 0.7 percentage points to 10.2% from the previous month. August gains were driven by full-time w...

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Canadian Real GDP Q2 - 2020

Posted on Aug 28, 2020 in Economics

GDP in Canada July 2020The Canadian economy contracted by 11.5 per cent from the first to the second quarter, or 38.9 per cent on a quarterly annualized basis, the steepest quarterly decline on record going back to 1961. Consumer spending fell 13.1 per cent as the start of the COVID-19 pandemic caused record job losses and prompted stores to close. Business investment wa...

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UPDATE: COVID-19 Reopening Dashboard

Posted on Aug 26, 2020 in Economics

BC Covid 19 Real Estate Vancouver DashboardThe BCREA Economics team has created the COVID-19 Reopening Dashboard to help REALTORS® monitor the evolution of the BC economy as the province gradually reopens. This dashboard focuses on the sectors and activities that have been most significantly impacted by the pandemic and the province's subsequent state of emergency.

To monitor the province's...

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