Solunion Export Risks Report
Manufacturing is showing strength, with sales volumes rising for the fourth consecutive month to a rate of 4,1% year-on-year.
![[Img # 22883]](https://empresaexterior.com/canada-solidez-de-la-economia-y-un-mercado-inmobiliario-demasiado-fuerte/upload/img/periodico/img_22883.jpg)
La manufacturing is showing strength, with a rise in sales volumes for the fourth consecutive month at a rate of 4,1% year-on-year, the fastest in 27 months, while new order entries are occurring at a steep rate of 6,7% year-on-year.
The real estate data remain red hot in March: home sales increased at a rate of 6,6% year-on-year, construction of new homes reached the highest level in almost 10 years, prices nationwide rose at a rate of 14,7 .XNUMX% year-on-year and prices of Toronto recorded a record pace of 23% year-on-year. The market clearly appears to be overheated, driven by both speculation and a strong economy. The governor of Bank of Canada (BoC), PolozHe described the price increases as "unsustainable," and it seems likely that the government will be forced to adopt further cooling measures.
Meanwhile, the BoC has sharply raised its 2017 GDP forecast, from 2,1% to 2,6%, as the economy has recently produced a prolonged series of bullish surprises.
However, the BoC left the official interest rate unchanged, with a "decidedly neutral" stance, noting that the recent improvement was due to temporary factors, inflation remained low, and the economy continued to show sluggishness.
Source: Solunion
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