Real estate brokers see GDP gain for first time this year

by Steve Randall02 Jul 2018

Canada’s economy saw some slight growth in April as real GDP gained 0.1%, the third month of growth following a decline in January.

Statistics Canada reports that 12 of 20 industrial sectors gained, driven by a 0.2% rise for goods producing industries despite a decline for construction.

Services industries were broadly unchanged but real estate brokers and agents posted their first gains of 2018 with a 0.5% rise in output. The industry posted three monthly declines at the start of the year following the introduction of the new mortgage rules in January.

The colder-than-usual weather in April impacted many industries including retail and motor dealers and parts; energy firms gained.

For construction, there was a 0.5% decline with residential construction falling 1% as building activity declined in most types of structures. The monthly decline for the sector overall was the largest since the strike-influenced decline of May 2017.

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