Real estate contributing more to the economy

Canadian GDP data for September was boosted by the construction and real estate, rental & leasing sectors.

Statistics Canada says that the construction industry grew by 0.7 per cent in the month following decline in the previous four months. Residential construction was particularly strong, increasing 1.7 per cent.

Real estate agents and brokers saw a 0.3 per cent despite decline in the Lower Mainland of Vancouver as this was offset by gains in the GTA.

Overall, the economy grew by 0.9 per cent in the third quarter of 2016 following 0.3 per cent decline in the second which was impacted by the Fort McMurray wildfires.
 

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