It was a strong start for the Canadian economy as real GDP expanded 0.7 per cent on a monthly basis in January. The increase in January marks the ninth consecutive month of positive economic growth, however, total economic activity is still about 3 per cent below its pre-COVID-19 level. With the strong start to 2021, first quarter real GDP growth is tracking at 5.5 per cent on an annualized basis.

An acceleration of vaccinations appears to be on the immediate horizon. As that roll-out progresses, we expect pent-up spending throughout the economy to be unleashed, driving a strong economic recovery. Following an unprecedented contraction in 2020, we expect the Canadian economy will enjoy two years of very strong growth with the economy expanding by more than 5 per cent this year and about 4.5 per cent in 2022.

For more information, please contact: Gino Pezzani.

Link:  https://mailchi.mp/bcrea/canadian-monthly-economic-growth-real-gdp-january-2021

Are you happy at work? The answer may depend on your attitude. The New York Post explains how to move from enduring your job, to enjoying it:

• Keep your balance. Don’t devote your whole life to your job. When you’re working, do the best you can. When you’re not, do something you really like to do; relax and recharge. Value both your work life and your personal time equally.

• Anticipate setbacks. Not every plan will succeed. Don’t be pessimistic, but take a realistic view of what could go wrong so you can plan to avoid problems or solve them as they come up. This will prevent you from being blindsided and paralyzed by obstacles in your path.

• Reward yourself. You’ve finished a big project? Celebrate. Even if you have to cut back on activities because of the pandemic, find ways to treat yourself. Plan a vacation for when it’s safe to travel again, or just take a day off to do something completely different.

• Expand your mind. Learn something new, whether it’s related to your job or not. Take an online course, study a new language, or just read something out of your usual selection. You’ll keep your mind agile and discover the joy in new pursuits.

• Remember: The grass isn’t always greener. You may think that any other job would be better than the one you’ve got now. That’s not necessarily true. Find out what your colleagues are dealing with. You may realize that you’ve got it pretty good right now.

• Consider why you have your job. Go back and think about why you chose the career path you’ve followed. Chances are you saw it as an opportunity to do some good and create value. Remember that as you work, and
remember to look for ways to incorporate your early dreams
back into your current situation.

Last month was Women In History Month. Did you pick up any new facts about women who changed the world? Well, now is your chance to take this fun quiz and learn something about the role of five particular women in history:

1. Which mother led a 125-mile march of child workers from the mills of Pennsylvania to President Theodore Roosevelt’s vacation home on Long Island?

2. What did Dolores Huerta do for farm workers in the United States?

3. Which Asian-American physicist disproved a fundamental scientific law?

4. Who led the movement to improve conditions for poor immigrants?

5. What singer drew a crowd of 75,000 to the Lincoln Memorial for a 1939 Easter Sunday Concert?

—— Think you know the answers? Flip this page upside-down to check!

Highlights:
• Mortgage rates increase as economic growth expectations revised higher
• Growth in the Canadian economy set to take-off in 2021
• Bank of Canada remains on hold but may be tested by increased inflation

For more information, please contact: Gino Pezzani.

Click here to view the March 2021 Mortgage Rate Forecast. 

This month’s COVID-19 Recovery Dashboard shows that near-record sales in Metro Vancouver, combined with unprecedented housing demand outside of Metro Vancouver, continued to drive a blistering pace of home sales in BC. Employment in retail and recreation are showing signs of recovery, but employment in accommodations and food services remains weak. Meanwhile, the number of people employed in high-wage positions continues to increase, supporting housing demand. Retail is starting to pick up again after a slow end to 2020. As the rollout of the vaccine accelerates, we can expect pent-up spending throughout the economy to be unleashed, driving a strong economic recovery. For a more comprehensive overview of BC's economic recovery, click here.

About BCREA’s COVID-19 Recovery Dashboard
The BCREA Economics team has created the COVID-19 Recovery Dashboard to help REALTORS® monitor BC’s economic recovery. This dashboard focuses on the sectors and activities that have been most significantly impacted by the pandemic, including:
• Housing Markets
• Retail, Restaurant Reservations and Movement
• Jobs and Hours Worked
• Manufacturing and International Trade
• Business and Consumer Confidences
• Tourism
To monitor the province’s progress, we benchmark each indicator to February 2020, the month before the pandemic was declared. This dashboard is updated each month.

BCREA's updated COVID-19 Recovery Dashboard is available here.

There is an old saying from Margaret Atwood which says, “You’re never going to kill storytelling, because it’s built into the human plan. We come with it.” The reason I send you a story, like this, each month is because stories remind us of who we are. I hope you find a piece of yourself in this story:
Once upon a time, two brothers were venturing from town to town. Along the way, they saw an old man with a white beard carrying a heavy sack over his shoulder. The old man stopped and asked the boys where they were headed. When he found out, he told them, “I want to help you.” He put a hand in his pocket and pulled out a handful of golden coins.

“Which one of you wants these?” he asked.

“I want them,” replied the big brother immediately.

The old man then put a hand in his other pocket and pulled out a precious gem, shining like the sun, and asked again, “And who wants to have this gem?”

“I want it,” the big brother answered hastily. The old man gave him the coins and the gem.

Then the old man put down his sack and said, “Now who is going to help me carry this sack to the village?”

The big brother said nothing. But the little brother pulled up his sleeves and bent down to help him.

The old man smiled and said, “Take it with you, my boy, along with everything that is inside.”

“No,” said the younger brother. “It’s not mine.”

“Take it.. take it.” said the old man. “It’s my gift to you.”

The little brother opened the sack, and what did he see? The bag was filled with gold coins and precious gemstones. He stood up to thank the old man, but he was nowhere to be found.

Whether you are the big brother - who is assertive and leaps toward opportunity, or the little brother – who believes in hard work, or the old man – who remembers to be fair and generous, I hope you find the best of who you are in this story.

A famous art professor who had lost his interest in work went to a life coach for help. The coach asked what interested him at museums, galleries and other art displays.

“Well," the professor said, "I look around and try to find the most brilliant painter of my time. That's what I really want to find out: who is the best?"

 The coach smiled, then pointed to a lady walking by outside “See that woman right over there? That’s the one.”

 The professor frowned. “But I know that woman and she’s not an artist! How could she be the best artist of my time?"

 The coach shook his head sadly. “Oh, she could be, just like everyone could be, if only they picked up a brush and tried to paint.”

Are you a night owl? Most of us can pull the occasional all-nighter, but approximately three in 2,000 adults, and 7-16% of teenagers, have trouble falling asleep within two hours of what’s considered a “normal” bedtime. This is a condition doctors call delayed sleep phase (DSP) syndrome, which interferes with a person’s internal clock, or circadian rhythm.

What can be done about it? Two of the most common treatments include:

• Light/darkness therapy. Avoid bright lights for up to two hours before going to bed. Turn on the lights as soon as you wake up, or get outside as quickly as possible to trigger a sense of wakefulness in your body.

• Chronotherapy. Try resetting your body’s schedule by gradually adjusting your bedtime by 15-30 minutes each night, and get up earlier by the same amount of time. Another strategy is to stay up all night, then go to bed an hour earlier than normal on the next night, and maintain that bedtime for a week. Repeat weekly until you’re on a regular schedule.