Canadian Monthly Real GDP Growth
The Canadian economy expanded for a third consecutive month in May, growing 0.2 per cent on a monthly basis. The rise in GDP was the result of higher output in 13 of 20 industrial sectors, led by manufacturing, construction and transportation. Activity at offices of real estate agents and brokers jumped 4.8 per cent in May due to increased home sales in the Greater Toronto and Greater Vancouver.
With today's GDP report, we are tracking second quarter growth in the Canadian economy at 3 per cent, a major improvement from the sub-1 per cent growth of the first quarter. Stronger growth and inflation at or near its 2 per cent target should keep the Bank of Canada sidelined in 2019. However, with the US Federal Reserve expected to lower its key policy rate this week, it is possible the Bank will follow suit. Either way, Canadian mortgage rates will likely remain near their current low levels for the foreseeable future.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.