The BCREA Commercial Leading Indicator (CLI) pushed higher in the first
quarter of 2016, reflecting a strong and growing BC economy. The CLI index posted a 1.1 point increase
to 120.8, eclipsing the previous index high of 120.1 set in the first quarter of 2015.
“The BC economy is surging,” said BCREA
economist Brendon Ogmundson. “The
economic climate in the province is, and is
expected to remain, very conducive to
rising commercial real estate activity over
the next year.“
After flattening out for several quarters,
the trend in the CLI is now reflecting the
uilding momentum in the BC economy.
Strong economic activity from rising retail
ales to improvement in manufacturing
hipments and wholesale trade along with
a very strong provincial job market helped
offset jittery financial markets to push the CLI to a record high in the first quarter.