A bit of relief this past Friday with both a potential resolution to the Euro-crisis as well as news that the US economy grew 2.5 per cent in the third quarter, thereby quieting some of the talk of a double-dip recession.

 

US real GDP growth was fairly broad based, with major contributions from consumer spending (up 2.4 per cent), exports (up 4 per cent) and a big jump in business investment. Even more impressive, the US managed  to record decent growth while  consumer and business confidence was being battered by political and financial market    volatility. 


Still, we will need to see both a sustained and higher rate of growth south of the border before that economy, and ours, are securely out of the woods.  For now, Friday’s news is a welcome change from the dire stream of data we have unfortunately become accustomed to, and may mean that the outlook for economic growth in BC and  Canada has become slightly brighter.

 

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

 


Read full post
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.