News: Vancouver Real Estate Market

Canadian Real GDP Growth - BCREA

   The Canadian economy grew 0.4 per cent in December and 1.8 per cent at a seasonally adjusted annual rate for the fourth quarter, close to BCREA’s forecast of 1.9 per cent and a marked decline from a 4.2 per cent rate of growth in the third quarter. Grwoth in Real GDP for 2011 was 2.5 per cent, a decline from 3.2 per cent growth in 2011. Significant uncertainty looms over the Canadian economy in 2012 from a yet unsettled Euro-debt crisis an improving but still sluggish US economy, and a deceleration in domestic demand.

 

We are forecasting Canadian economic growth to further slow in 2012 to just 2.2 per cent. Muted economic growth and ongoing slack in labour markets should keep core inflation near 2 per cent, while rising oil-prices may push headline CPI inflation higher. We anticipate that the Bank of Canada, with Europe and rising household debt at the front of mind, will look past energy related movements in CPI inflation as temporary and leave interest rates unchanged at 1 per cent in 2012.

 

Copyright British Columbia Real Estate Association. Reprinted with permission.

Comments:
No comments

Post Your Comment:

Blogs
Posts By Date
Categories
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.