Tuesday, 28 February 2012

Good news for BC - Commercial Leading Indicator Points to a Strong 2012

Vancouver, BC – February 28, 2012.

The BCREA Commercial Leading Indicator (CLI) rose
for the second consecutive quarter, advancing 1.1 points to an index level of 111. On a fourthquarter over fourth-quarter basis, the CLI moved 1.6 per cent higher in 2011. While this is a marked slowing from the 5.2 per cent surge in2010, the index picked up
Commercial Leading Indicator
considerable momentum in the third
and fourth quarter of the year, more
than making up for a weak first half of 2011.
The trend in the CLI turned up slightly as early softness in economic activity was smoothed out by a stronger second half of the year.  This change in trend indicates a positive economic environment for the BC commercial real estate sector in 2012.
“Improving economic data provided a strong tailwind for the CLI in the second half of 2011,” said Brendon Ogmundson, BCREA Economist. “However, growing anxiety surrounding the global economy could constrain the economic environment for commercial real estate this year.”

The full BCREA Commercial Leading Indicator index is available at

http://www.bcrea.bc.ca/docs/economics-forecasts-and-presentations/clireport.pdf

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