Canadian Quarterly Real GDP Q3 - 2020
Posted on Dec 01, 2020 in Economics
Following 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...Commercial Activity Rebounded in Q3 2020
Posted on Dec 01, 2020 in Economics
The 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...Canadian Retail Sales (September 2020)
Posted on Nov 22, 2020 in Economics
Retail 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...Canadian Inflation (October 2020)
Posted on Nov 18, 2020 in Economics
Canadian 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...Canadian Housing Starts (October 2020)
Posted on Nov 17, 2020 in Economics
Canadian 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...BC Housing Market Continues Record Pace in October
Posted on Nov 12, 2020 in Market Update
The British Columbia Real Estate Association (BCREA) reports that a total of 11,051 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in October 2020, an increase of 43.8 per cent from October 2019. The average MLS® residential price in BC set a record of $812,960, a 12.5 per cent increase from $722,333 recorded the previ...