Real estate helps Canada’s economy reverse decline

Friday, July 1st, 2016

Steve Randall

Canada’s economy grew in April by 0.1 per cent following two months of decline and real estate was a key driver of growth.

Statistics Canada’s figures show that the real estate sector added $218.8 billion to GDP in the year to April, up from $211.6 billion in the previous 12 months.

The data shows that real estate was responsible for a third of the annual GDP growth year-over-year.
A separate report from the Conference Board of Canada highlighted improving economic conditions. Its leading indicator increased 2.6 points in April with 7 of the 9 components increasing.

Commercial and industrial building permits together with employment insurance claims were the components that were lower.

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