Vancouver, BC – August 30, 2018.
The BCREA Commercial Leading Indicator (CLI) recovered in the second quarter following a rare first quarter decline. The index rose 1.9 points to an index level of 135.4. That increase represents a 1.4 per cent rise from the first quarter of 2018. The index is 2.7 per cent higher than this time one year ago.
“The CLI was propelled higher by strong manufacturing sales and employment growth,” says BCREA Deputy Chief Economist Brendon Ogmundson. “This suggests strong performance in the industrial sector through the balance of the year.”
The trend in the CLI has flattened somewhat over the past six months, which signals continued positive, if somewhat slower, growth in commercial real estate activity.