There are positive signs that the Canadian economy is bouncing back after six months of slow growth. Output in the the Canadian economy rose 0.3 per cent in April following growth of 0.5 per cent in March. The rise in GDP was the result higher output in the mining and oil and gas sectors and well as increasing wholesale trade and construction spending. Output of offices of real estate agents and brokers was up 1.3 per cent in April due to increased resale activity, largely in Ontario.
 
With today's GDP report, we are tracking second quarter growth in the Canadian economy at 2.5 per cent, a major improvement from the sub-1 per cent growth of the first quarter.

Copyright British Columbia Real Estate Association. Reprinted with permission.