The BCREA Commercial Leading Indicator (CLI) declined for
a second consecutive quarter, falling 0.2 index points in the third quarter to
120.0. The index was still 1.2 per cent higher year-over-year, due to strong
momentum from 2014 that carried into the early months of this
Third quarter jitters in financial markets and modest
employment losses overwhelmed strong gains in provincial economic activity to
pull the CLI lower.
“The BC economy remains very strong,” said BCREA
economist Brendon Ogmundson. “This underlying strength should help to offset
some of the temporary financial market, as well as other factors that pulled
the CLI lower over the summer.”
A flattening underlying trend in the CLI points to some
stability in commercial real estate activity on the horizon, though a very
strong economic climate in the province should continue to support modest
growth in the commercial market.
Copyright BCREA - Reprinted with Permission
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