Monday, 7 July 2014

Canadian consumer confidence rises

Canadian consumer confidence rises as real estate outlook surges

As the housing starts rose to their strongest level in seven months in May, preceded by a decline in construction in the first three months of the year (Canada Mortgage & Housing Corp.), Canadian consumer confidence rose and so the percentage of respondents who believe home values in their neighborhood will increase in the next six months, the highest since the fourth quarter of 2009.

Although Canada’s economic growth slowed in the first quarter as the harsh winter slowed housing construction, business spending and exports, and expanded less than economists forecast in April, it remained appropriate for the central bank to keep its benchmark interest rate at 1 percent, in view of the economy’s “modest” pace of growth (Bank of Canada Governor Stephen Poloz).

No comments:

Post a Comment