Growth Seen By Construction & Real Estate Sectors

At the latter part of last year, the construction and real estate sectors went through a stage of growth based on the current GDP data.

The numbers from Statistics Canada showed a growth of 1.0 per cent in the construction industry during December, which was recorded for the fourth month in a row to see an increase.

An additional 0.9 per cent was added to the elevated construction of single and multi-family homes by the residential sector. A growth of 0.3 per cent was experienced by the real estate and rental and leasing sector, with an increase of 2.7 per cent seen by real estate agents and brokers.

The increase in December was right after the slump of 6.4 per cent for real estate agents that took place in November, following the endorsement of the mortgage lending rule changes that was introduced.

Generally, the economy of Canada increase by a mild 0.3 per cent in December and during the fourth quarter it went up by 2.6 per cent compare to the previous year.