Real estate agents, brokers were busier in March says StatsCan

by Steve Randall03 Jun 2019

Canada’s GDP increased 0.5% in March following a 0.2% decline in the previous month.

Figures from Statistics Canada show that goods-producing industries gained 0.7% while services-producing industries were up 0.4% and had their strongest increased since May 2018.

Among the stronger performance from the services sector, there was a 0.3% increase for real estate, rental, and leasing. This follows a decline in February and was driven by a 2.6% rise for activity at offices of real estate brokers and agents as activity gained in most metropolitan markets.

The real estate, rental, and leasing sector also contributed the largest GDP growth in the first quarter of 2019 (0.5%).

There was a 0.5% rise for the construction sector, led by a 1.2% rise in repair construction. Residential construction was up 0.3% led by gains for home alterations and improvements.

Following a 0.2% decline in February, gross domestic product increased 0.5% in March 2019. #GDP

— Statistics Canada (@StatCan_eng) May 31, 2019

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