BCREA ECONOMICS NOW
Canadian Monthly GDP (April) - June 29, 2012
The Canadian economy expanded 0.3 per cent in April on the heels of 0.1 per cent growth in March. Much of April's increase was due to a 2.7 per cent rebound in the mining and oil gas extraction sector following two months of declines. Despite a strong headline number, there was underlying weakness in April's numbers as important industries like construction, manufacturing and retail trade all posted declines.
Today's release puts our GDP tracking estimate at 2 per cent for the second quarter, well below the Bank of Canada's most recent forecast of 2.5 per cent. For the year, we are forecasting that the Canadian economy will grow a modest 2.2 per cent.
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 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education (cpe).
Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.
