The Canadian gross domestic product saw an increase of 1.8 percent, equaling $50.2 billion in March. Rishi Sondhi, a TD economist, said robust job markets and healthy income gains would keep consumers spending at “a decent clip” in the year to come. The weaker housing market, higher gas prices, and rising interest rates should not deter consumers. The retail report for March shows the GDP growth at 1.8 percent, which is more than what the Bank of Canada estimated for the first quarter. With a job market thriving, now is the time to consider relocating to Canada for a job opportunity. You and your family will enjoy living in this diverse country. Contact BecomeACanadian for any immigration questions you may have. Their experienced team can walk you through each step of the process.
The increase in sales at automobile and parts dealers in March helped push the overall retail activity higher for the third month in a row, according to Statistics Canada. Retail sales rose three percent, while also assisting the increase, clothing and accessories retailers were up 2.5 percent and general merchandise stores saw growth of one percent. Sondhi commented, “With a healthy gain in volumes, today’s report painted a relatively upbeat picture of retail activity in March.” He noted the first quarter saw a decrease in volumes, leading to slower consumer spending. But the momentum grew as the quarter progressed which is a positive sign for near-term activity. It supports the view that growth recovered to an above-trend gait in the second quarter. BecomeACanadian has a team of professionals ready to assist you and your family to receive the required visa to live and work in Canada. Contact them today!