Vancouver, BC – November 30, 2016.
The BCREA Commercial Leading Indicator (CLI) increased for a ninth consecutive quarter, rising 2 points in the third quarter of 2017 to 135.3. That increase represents a 1.7 per cent rise over the second quarter and a 7.3 per cent increase from one year ago.
“A booming BC economy continues to drive the CLI higher," says BCREA Economist Brendon Ogmundson. "While we expect that the almost unprecedented cycle of above-trend growth in the BC economy will end next year, the overall economic environment remains very supportive."
The underlying CLI trend, which smooths often noisy economic data, continues to push higher due to strong provincial economic and employment growth. That uptrend signals further growth in investment, leasing and other commercial real estate activity over the next two to four quarters.
Copyright British Columbia Real Estate Association. Reprinted with permission.