Construction, real estate sectors growing

The construction and real estate sectors grew at the end of 2016 according to the latest GDP data.

Statistics Canada figures show that the construction industry grew 1.0 per cent in December, the fourth monthly increase. The residential sector added 0.9 per cent on higher construction of single and multi-family homes.

The real estate and rental and leasing sector grew 0.3 per cent with real estate agents and brokers showing a 2.7 per cent increase. December’s increase followed November’s slump of 6.4 per cent for real estate agents following the introduction of mortgage lending rule changes.  

Overall, the Canadian economy grew 0.3 per cent in December and 2.6 per cent for the fourth quarter compared to a year earlier.

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