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Montréal : Office Snapshot - Q1 2014

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The economic growth of Quebec continues to be modest, with Real GDP expanding by 1.2% in 2013. Looking forward, the economic outlook seems positive, with anticipated growth rates of 1.9% for 2014 and 2.3% for 2015. The economy continues to rely on an improving export sector, which recorded a healthy 3.7% growth in 2013. Employment growth remains limited and led to a marginal drop in the unemployment rate to 7.6% in 2013 from 7.8% in 2012. The housing market continues to be sluggish. Housing starts fell by 20.3% in 2013, while the volume of existing home sales dropped by 7.9%. The impact of the recent win of the Liberal Party on the economy of Quebec has yet to be seen, with a promised budget surplus by 2015-2016 while maintaining spending growth under 3%.

Source : Cushman & Wakefield

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