Things are looking good for the economy in British Columbia according to the provincial real estate association’s Commercial Leading Indicator.
The indicator increased in the fourth quarter of 2017; taking the index to 135.7, up 0.4 points. That represents a 0.3% rise from the previous quarter, and a 6.7% rise from Q4, 2016.
“The BC economy continued to thrive in the fourth quarter of 2017,” says BCREA Economist Brendon Ogmundson. “Increased activity in key commercial real estate sectors contributed to a fourth consecutive year of a rising CLI, mirroring the last four years of robust economic growth.”
BCREA says that the indicator reflects strong provincial economic and employment growth, signalling growth in investment, leasing, and other commercial activity in the next two to four quarters.
The CLI’s rise at the end of 2017 was driven by economic gains including a 3.2% rise for manufacturing, and a strong performance for retail.