John Pasalis in Toronto Real Estate News
The Montreal Gazette recently reported on a Organization for Economic Co-operation and Development (OECD) report that forecasted a milder economic slowdown in Canada when compared to other G7 countries. The report forecasts "a weakening outlook for all the major seven economies."
The OECD report uses something called a Composite Leading Indicator (CLI). Leading indicators are economic variables that provide some insight into future changes in Gross Domestic Product (GDP). The CLI pulls together a number of short-term leading indicators that together forecast turning points in economic activity.
The CLI across G7 countries dropped 3.4 points from last year, three times more than the 1.1 point decline seen in Canada.
You can find the complete OECD report here.
John Pasalis is a sales associate at Prudential Properties Plus in Toronto and a founder of Realosophy. Email John
OECD just confirmed what I’ve read also in the report of IMF and also in some prediction of Ernst & Young. It really looks that Canadian economy is still in a good condition. It is quite surprising since Canada closest business partner was affected the most. And speaking about real estate “crisis”, I am dealing with Toronto condos and I haven’t noticed any slowdown concerning my business yet.
Posted by: Toronto real estate agent | May 18, 2008 at 04:49 PM