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BCREA ECONOMICS NOW-Canadian Monthly GDP Growth


Blog by Century 21 Amos Realty | September 30th, 2013


BCREA ECONOMICS NOW

Canadian Monthly GDP Growth - September 30, 2013

The Canadian economy bounced back from a flood and labour unrest induced 0.5 per cent decline in June to grow 0.6 per cent in July. Growth was led by those industries hardest hit in the previous month, including construction, manufacturing and oil and gas. 

The rebound in July's economic growth provides some momentum for the economy in the third quarter. Our tracking estimate currently  puts third quarter Canadian economic growth at roughly 2 per cent. However, growth in the third and fourth quarter may be challenged by yet another manufactured debt crisis in the United States as well as the impact of higher long-term interest rates. While the latter have moderated significantly since the US Federal Reserve opted not to slow its quantitative easing, rates could rise quickly if US economic data exceeds expectations. Our forecast for the Canadian economy in 2013 remains at 1.6 per cent real GDP growth. 

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 REALTORSXX