BCREA ECONOMICS NOW: Canadian Monthly GDP Growth - March 28, 2013
BCREA ECONOMICS NOW
Canadian Monthly GDP Growth - March 28, 2013
The Canadian economy grew 0.2 per cent in January, building off of a similar increase in December. January's economic growth was lead by a 1.2 per cent rebound in manufacturing output from a 1.9 per cent decline the previous month as well as gains in mining and oil and gas extraction and wholesale and retail trade. A pick-up in housing market activity reversed a three month decline in the output of real estate agents and brokers which rose 0.4 per cent.
Our first quarter GDP growth estimate is currently reading 1.6 per cent (at an annual rate), a significant improvement from the 0.6 per cent rate that prevailed in the second half of 2012. We anticipate that growth will continue to be modest through the first half of 2013 before accelerating in the second half of the year and into 2014.
For more information, please contact:
Cameron Muir | Brendon Ogmundson |
Chief Economist | Economist |
Direct: 604.742.2780 | Direct: 604.742.2796 |
Mobile: 778.229.1884 | Mobile: 604.505.6793 |
Email: cmuir@bcrea.bc.ca | Email: bogmundson@bcrea.bc.ca |
BCREA represents 11 member real estate boards and their approximately 18,000 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education (cpe).
Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: “Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.
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