Canada’s economy grew in April by 0.1 per cent following two months of decline and real estate was a key driver of growth.
Statistics Canada’s figures show that the real estate sector added $218.8 billion to GDP in the year to April, up from $211.6 billion in the previous 12 months.
The data shows that real estate was responsible for a third of the annual GDP growth year-over-year.
A separate report from the Conference Board of Canada highlighted improving economic conditions. Its leading indicator increased 2.6 points in April with 7 of the 9 components increasing.
Commercial and industrial building permits together with employment insurance claims were the components that were lower.
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