GDP Q3 = Flat Market

Economic News

Canadian GDP Growth – Q3 – November 30, 2011

Canadian economic growth rebounded strongly in the third quarter of 2011 following a slight contraction in Q2.

Growing

Real GDP data released this morning showed that the economy grew a robust 3.5 per cent last quarter, propelled higher by surging exports. However, domestic demand moderated as consumers and businesses reigned in spending.

The Future

Our forecast is for economic growth to slow in the fourth quarter and through much of 2012, likely to an average rate of between 1.5 and 2.5 per cent. Slow growth in Canada and uncertainty in the global economy will keep inflation steady and allow the Bank of Canada to hold off on rate hikes through much of next year, with the potential for moderate tightening near the end of 2012.

Thoughts

This may be a hint of the pages ahead in the continuing saga of Vancouver Real Estate. Blowing bubbles, street talk suggests that the market isn’t going to walk off the cliff but rather settle into a flat period in the next year. In anticipation of the outcome for 2012 get your fingers ready to flip the pages?

“Copyright British Columbia Real Estate Association. Reprinted with permission.”

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

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*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

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