BCREA Nowcast (September 2020)

BC Monthly Real GDP Estimate for July 2020 & Preliminary Estimate for August 2020 (Updated: September 30, 2020)

The BCREA Nowcast estimate of provincial economic growth (expressed as year-over-year growth in real GDP) for July is -4 per cent. For comparison, the Canadian economy contracted 4.9 per cent year-over-year in July.

We have also included a preliminary estimate for August 2020 of -3.2 per cent. While year-over-year growth remains negative, the rate of decline is slowing as the economy continues to improve on a monthly basis.

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BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research, and standard forms to help REALTORS® provide value for their clients.

To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.