Canadian Business: Canada's great recession wasn't that bad after all: Statistics Canada

Sent from Canadian Business. To get Canadian Business on your own BlackBerry device today, visit http://canadianbusiness.com/mobile

---------------------------
Canada's great recession wasn't that bad after all: Statistics Canada
By: THE CANADIAN PRESS

OTTAWA - It's been called the Great Recession by many around the globe.

But Statistics Canada says the economic meltdown that devastated the economies of dozens of countries large and small in 2008 and 2009 left Canada relatively unscathed.

According to the federal agency, Canada did suffer through a technical recession - a 3.3 per cent drop in gross domestic product over three quarters between the fall of 2008 and the summer of 2009.

But that was shorter and milder than Canada's previous two recessions. For example, the 1981-82 slump saw GDP fall 4.9 per cent over six quarters, while the 1991-92 downturn resulted in a 3.4 per cent fall-off in output over four quarters.

Recessions are mostly felt by those who lose their jobs, and on this measure the latest downturn was especially mild.

Statistics Canada says employment fell just 1.8 per cent in the recent recession, compared with 3.2 per cent in 1991-92 and five per cent in 1981-82.

Best regards,
Dean Birks - REALTOR
Royal LePage Prince George

Sent via BlackBerry

Posted via email from Prince George Real Estate

Here is a few 'Good News' items I came across this week specific to Prince George BC.

1. Lumber prices continue to escalate as well with the “Composite Index” at $342 this past week compared to $202 a year ago. This has led to a reduction in the border tax as of May 1 from 15% to 10%. I really believe we will start seeing some mills re-open and shifts being added back. In addition I would expect a significant increase in logging activity this summer.
2. The real driver behind price increases was seen in January 2010 when B.C.’s total softwood lumber exports increased by 22% over January 2009. This includes a four-fold increase in the exports to China, a six per cent increase in exports to the U.S. and an 11 per cent increase in exports to Japan.
3. In February 2010, B.C.'s average weekly wage was $813, fourth highest in Canada. The average weekly wage has risen by $165 - or more than 25 per cent - since 2001, when it was $648.
4. Consumer confidence in British Columbia rose by a record 25.9 points in March and now sits at 121.1 points. The Conference Board of Canada reports B.C.’s consumer confidence level is 28.6 points higher the Canadian average of 92.5.
5. In December 2009 China granted Canada approved destination status, allowing tour operators and travel agents in China to advertise and organize tours in Canada and British Columbia. Approved destination status could increase Chinese tourism to B.C. by 25 per cent annually over the next few years.

From Pat Bell's newsletter online.

Best regards

Dean Birks

Royal LePage Prince George

Direct Phone: 250-612-1709

Private Fax: 1-888-870-4132

Prince George Real Estate

Posted via email from Prince George Real Estate

Real Estate Shows Strong First Quarter in Central BC

By 250 News Thursday, April 08, 2010 04:07 AM

Prince George, B.C. - The B.C. Northern real Estate Board is reporting a very healthy first quarter.

In the first quarter of 2010 sales of properties of all types through the Multiple Listing Service of the BC Northern Real Estate Board (BCNREB) were significantly higher than a year ago.

To the end of March, 887 properties with a value of $180.8 million changed hands in the area served by the members of the BCNREB, compared to 589 properties worth $117 million in the first 3 months of 2009.

As of March 31st, 2010 there were 4347 properties of all types available for purchase through the MLS®, compared to 4018 at this time last year.

President Claudia Holland is optimistic, “The overall market is picking up tentatively with more homes being listed and more buyers purchasing as spring comes upon us. With the first quarter of 2009 being a time most people would like to forget, the statistics are showing a cautious recovery. With expanded resource exploration and development, the north is seeing positive growth and that is reflected in the real estate industry.”

Fraser Fort George Region:

City of Prince George: 246 properties of all types, worth $54.6 million have changed hands in

the first 3 months of 2010 compared with 208 properties worth $45.7 million in the same time period last year.

In the west part of the City, the median price of the 51 single family homes that have sold on MLS® was $220,500 ($189,000 in 2009).

In the area east of the By-pass, the 29 single family houses that sold had a median value of $179,500 ($173,500 in 2009).

In the northern part of the City, commonly referred to as “the Hart”, 31 single family homes sold with a median price of $239,950 ($249,900 in 2009).

In the southwestern section of the City, 52 homes have sold since January with a median price of$268,000 ($290,000 in 2009).

At the end of March there were 649 properties of all types available on the MLS® within the City limits, compared to 683 at the same time last year.

Copy courtesy of:

Dean Birks

Royal LePage Prince George

Direct Phone: 250-612-1709

Private Fax: 1-888-870-4132

Prince George Real Estate

Posted via email from Prince George Real Estate

Government Committee Working on Wood Innovation Centre for Prince George BC

Government Committee Working on Wood Innovation Centre

By 250 News  Tuesday, April 06, 2010 10:37 AM

Prince George, B.C.- The Wood Innovation Centre for Prince George is in the planning stages says Finance Minister Colin Hansen.

Speaking on the Meisner program on CFISFM this morning, Minister Hansen said the project is definitely “on the books” and the money has been set aside for it. “There is a committee within government that is working specifically on that” says Hansen, who adds “The Premier has assigned one of the senior deputy Ministers to this. Her top priority is to pull all of that together.”   Hansen say there are still a lot of details to be worked out but there has been enough money put aside to ensure the project gets going.

The Wood Innovation Centre is considered to be the cornerstone of a major development for downtown Prince George. It   has been proposed that it be linked with a satellite campus of UNBC which would house an engineering school.

It is expected the City will provide the land for the project, and while the newly purchased P.G. Hotel site might be on the list of possibles, there is also the block on 6^th between  Quebec and Dominion Streets which may be suitable.

Copy of this news by Opinion 250  courtesy of:

Best regards

Dean Birks

Royal LePage Prince George

Direct Phone: 250-612-1709

Private Fax: 1-888-870-4132

Prince George Real Estate

Posted via email from Prince George Real Estate