Showing Tag: "economy" (Show all posts)

GG Finance: Oh Canada! Our home & expensive land

Posted by Jackelyn Ford on Friday, June 27, 2014,

http://goldengirlfinance.com/inspiration/?post_id=1629

Golden Girl Finance | July 15, 2013

The high cost of being Canadian

The True North may be strong but it isn’t exactly free. At least, not from a household finance perspective.
Last winter, a British economic research group concluded that the cost of living in the UK is 11% higher than the international average and 18% costlier than living in the United States.
No surprise there, right? We have all heard stories or had our own experiences of...

Financial Post: Bank of Canada can afford to put off rate hike until 2015

Posted by Jackelyn Ford on Thursday, May 8, 2014,

http://business.financialpost.com/2013/11/27/bank-of-canada-can-afford-to-put-off-rate-hike-until-2015-imf/
Gordon Isfeld | November 27, 2013

OTTAWA — First, the good news.

Canada’s economy will accelerate in 2014 — clocking in at a pace of 2.25%, easily overtaking this year’s modest growth of nearly half that, according to the world’s largest lending organization.

Homeowners feel the pinch of rising prices, mortgage rates

RBC’s latest research on how much income is needed to maintain ...

BNN: Canadians in top 1% earn 7 times national median

Posted by Jackelyn Ford on Tuesday, March 4, 2014,

http://www.bnn.ca/News/2013/9/11/Canadians-in-top-1-earn-7-times-national-median-Survey.aspx
Bill Curry | September 11, 2013

Canadians in the top one percent are paid more than $191,000 a year according to the National Household Survey, which takes a closer look at how governments take from the rich and give to the poor.

The make-up of the one percent club is overwhelmingly male, most-likely over the age of 45 and tends to work in management jobs. Canada's top earners are also more likely to m...

Inc.com: 10 Things Business Owners Can Count On in 2014

Posted by Jackelyn Ford on Tuesday, March 4, 2014,

http://www.inc.com/gene-marks/10-things-business-owners-can-be-certain-about-in-2014.html#!
Gene Marks | December 26, 2013

We are small business owners. We complain about uncertainty. We don't like surprises. Well, we can stop complaining.
Because here are 10 things you can be absolutely certain about in 2014.

1. Washington gridlock will continue. The Republicans are working to win back the Senate in this year's
Congressional elections. It’s a long shot. If they control both houses of Congress...

Castanet: What Canadians earn

Posted by Jackelyn Ford on Thursday, November 14, 2013,

http://www.castanet.net/news/Canada/98220/Stats-What-Canadians-earn
The Canadian Press | Sept 11, 2013

Statistics Canada's third and final release of 2011 National Household Survey data illustrates, among other things, how much Canadians have been earning and where they have been living. Some highlights:
Fully one-quarter of Canadian households, about 3.3 million, spent 30 per cent or more of their total income on shelter, exceeding the Canada Mortgage and Housing Corporation's "affordability th...

BNN: Trillion dollar view on 2013

Posted by Jackelyn Ford on Wednesday, January 16, 2013,

http://www.bnn.ca/News/2013/1/9/Trillion-dollar-view-on-2013.aspx
BNN.ca staff | January 9, 2013

The performance of U.S. markets will be tempered by a weak economy, lower personal incomes and the threat of a U.S. government debt downgrade, says David Darst, chief investment strategist for Morgan Stanley Wealth Management, which oversees $1.7 trillion US in assets.

For these reasons, the firm is calling for "mid to high single-digit returns" for U.S. markets this year, says Darst.

We are "not exc...

BNN: Census shows spike in seniors, East-West labour gap

Posted by Jackelyn Ford on Thursday, December 6, 2012,

http://www.bnn.ca/News/2012/5/29/Census-shows-spike-in-seniors-East-West-labour-gap.aspx
Bill Curry, The Globe and Mail | May 29, 2012
Canada's latest census numbers underscore the growing obsession of federal and provincial governments with demographics, as the retiring baby boom generation is starting to have major policy implications for labour markets, taxation and the quality of key social programs like health care.

Nationwide, the number of seniors aged 65 and over increased 14.1 percent ...

Globe & Mail: Flaherty ‘relatively confident’ of weathering economic storm

Posted by Jackelyn Ford on Tuesday, October 4, 2011,

http://www.bnn.ca/News/2011/10/4/Flaherty-relatively-confident-of-weathering-economic-storm.aspx

Bily Curry, The Globe and Mail | October 4, 2011

Markets are dropping steeply, demand for Canada's oil is waning and the loonie's value no longer hovers above the greenback -- but Jim Flaherty says he remains confident new measures are not required for Canada to weather the current economic storm.

Speaking with reporters in Ottawa, the Finance Minister noted that he was feeling positive about ...

BNN: The problem with China's $3 trillion in reserves

Posted by Jackelyn Ford on Monday, October 3, 2011,

http://www.bnn.ca/News/2011/4/15/Chinas-3-trillion-in-reserves-more-a-bane-than-a-boon.aspx

Reuters | April 15, 2011

China's foreign exchange reserves have topped $3-trillion-and-counting, stoking inflation, knocking the economy off kilter and leaving the country's money managers with an impossible assignment.

At first glance, the eye-watering stockpile appears to be a symbol of China's fast-growing wealth. But on deeper inspection, the vast cash holdings are an unflattering testa...

BNN: Is this a bull or bear market?

Posted by Jackelyn Ford on Monday, October 3, 2011,

http://www.bnn.ca/News/2011/6/16/Is-this-a-bull-or-bear-market.aspx

BNN.ca staff | June 16, 2011

Equity markets have pulled back sharply in recent weeks and fears over the economic recovery are becoming more pronounced. BNN gathers two noted investors for their take on whether the bull-run of the last two years is over or if this is just a temporary roadblock.

"I don’t think we are at the end of the bull market because if you are signaling the end of the bull market you are basically sh...
Continue reading ...

Globe & Mail: The scary real U.S. government debt

Posted by Jackelyn Ford on Monday, October 3, 2011,

http://www.globeadvisor.com/servlet/ArticleNews/story/gam/20101027/RBREYNOLDSCOLUMN1027ATL

Neil Reynolds | October 27, 2010

Boston University economist Laurence Kotlikoff says U.S. government debt is not $13.5-trillion (U.S.), which is 60 per cent of current gross domestic product, as global investors and American taxpayers think, but rather 14-fold higher: $200-trillion - 840 per cent of current GDP. "Let's get real," Prof. Kotlikoff says. "The U.S. is bankrupt."

Writing in the September ...

BNN: Economist says housing prices to fall 25%

Posted by Jackelyn Ford on Monday, October 3, 2011,

http://www.bnn.ca/News/2011/10/3/US-manufacturing-sector-grows-faster-in-September.aspx

Reuters | June 6, 2011

Building permits posted an unexpected 21-percent decline in April. BNN speaks with David Madani of Capital Economics about the data – and his belief that the Canadian housing market is set for a 25 percent pullback in prices.

BUILDING PERMITS DECLINE

The value of building permits issued in Canada in April unexpectedly plummeted 21.1 percent from March on weakness in the powerful pro...

BNN: Slow growth for rich countries in 2011

Posted by Jackelyn Ford on Tuesday, June 28, 2011,

http://www.bnn.ca/News/2010/12/30/Slow-growth-for-rich-countries-in-2011-IMF.aspx

Reuters | December 30, 2010

A two-speed global recovery will extend into 2011, with developed countries growing slowly while emerging-market economies power ahead, the International Monetary Fund's chief economist predicted on Thursday.

In an interview with the lender's online magazine, IMF Survey, Olivier Blanchard said the necessity for countries to rebalance their economies by letting exchange rates ad...

Globe&Mail: Why I'm still a bull on bonds

Posted by Jackelyn Ford on Tuesday, June 28, 2011,

http://www.globeadvisor.com/servlet/ArticleNews/story/gam/20101216/GIROSENBERG1216ATL

DAVID ROSENBERG I Thursday, December 16, 2010

Convinced that we're headed for better economic days in 2011? A variety of factors threaten to upset the apple cart.

There's a widespread belief that the U.S. economy is going to grow vigorously, that Europe will solve its problems, and that emerging markets will propel a global recovery in the year ahead.

I think all these notions are questionable. Let me exp...

BNN: Canadian commercial real estate reborn in 2010

Posted by Jackelyn Ford on Tuesday, March 1, 2011,

http://www.bnn.ca/News/2011/2/14/Canadian-commercial-real-estate-reborn-in-2010.aspx
Steve Ladurantaye, The Globe and Mail | February 14, 2011
The commercial real estate market saw an unprecedented recovery last year, with investment growing 48 percent as the economy improved and investors returned to the market.

Canadian commercial real estate volume reached $18.9 billion in 2010, according to CB Richard Ellis, from $12.7 billion in 2009. That’s close to the pre-recession peak of $19.8 ...

BNN: Flaherty details new mortgage rules

Posted by Jackelyn Ford on Monday, January 17, 2011,

http://www.bnn.ca/News/2011/1/17/Flaherty-details-new-mortgage-rules.aspx
Bill Curry and Grant Robertson, The Globe and Mail | January 17, 2011

Concern over rising consumer debt levels is prompting Ottawa to make three new changes to Canada's mortgage rules.

Finance Minister Jim Flaherty announced Monday that new federal rules will reduce the maximum amortization period to 30 years from 35 years for government-backed insured mortgages with loan-to-value ratios of more than 80 percent.

Secon...

BNN: Low rates create risks, Bank of Canada chief warns

Posted by Jackelyn Ford on Monday, January 17, 2011,

http://www.bnn.ca/News/2010/12/13/Low-rates-create-risks-Bank-of-Canada-chief-warns.aspx
Reuters | December 13, 2010

Bank of Canada Governor Mark Carney warned Canadians on Monday of the risks inherent in what he predicted would be a prolonged period of low interest rates in advanced economies. At the same time, he said businesses and individuals should be aware that the era of cheap money would inevitably end. He also highlighted the relative strength of the Canadian economy ve...

BNN: Scotia sees 2011 gains for loonie, stocks

Posted by Jackelyn Ford on Monday, January 17, 2011,

http://www.bnn.ca/News/2010/12/7/Scotia-sees-2011-gains-for-loonie-stocks.aspx
Reuters | December 7, 2010

Canada's dollar will grind higher against the greenback in 2011 and 2012, boosted by demand for commodities and interest rates higher than those found in the United States, Scotiabank predicted.

The S&P/TSX composite index is also likely to rise more than 5 percent from current levels by the end of next year as the economy recovers further, the bank said in an economic and market outlo...

Globe & Mail: A call for long-term thinking

Posted by Jackelyn Ford on Monday, January 17, 2011,

http://www.globeadvisor.com/servlet/ArticleNews/story/gam/20101019/RBBLACKROCKFINKERMANATL
BOYD ERMAN and TIM KILADZE - Tuesday, October 19, 2010

TORONTO -- Larry Fink worries that Americans are putting their economy at risk by neglecting the future.

The founder of BlackRock Inc., the world's largest asset management company, isn't keeping the concern to himself, either. "The biggest weakness I think we have in America is we have forgotten the long term," Mr. Fink said in a recent interview ...

BNN: Experts see more trouble for U.S. real estate

Posted by Jackelyn Ford on Monday, January 17, 2011,

http://www.bnn.ca/News/2010/10/6/Experts-see-more-trouble-for-US-real-estate.aspx
Reuters | October 6, 2010

Commercial real estate is where the action will be next year, restructuring and bankruptcy experts said at the Reuters Restructuring Summit summit on Wednesday.

"I call it a slow-motion train wreck," James Sprayregen, a restructuring partner at law firm Kirkland & Ellis, said in New York. "That's probably where I think you're going to see more action than anything over the n...

BNN: Canada has bigger deficit, sees surplus in 2015-16

Posted by Jackelyn Ford on Friday, December 17, 2010,

http://www.bnn.ca/News/2010/10/12/Canada-has-bigger-deficit-sees-surplus-in-2015-16.aspx
Reuters | October 12, 2010

Canada's federal budget deficit for the 2009-10 fiscal year totaled $55.6 billion, or 3.6 percent of gross domestic product, exceeding expectations due to special payments to two major provinces, Finance Minister Jim Flaherty said on Tuesday.

Ottawa had forecast a budget shortfall of $53.8 billion, or 3.5 percent of gross domestic product, as it poured cash into inf...

CTV: Canada's economy still leads, but slowing: IMF

Posted by Jackelyn Ford on Friday, November 26, 2010,

http://www.ctv.ca/CTVNews/Canada/20101006/imf-canada-101006/

CTV.ca News Staff - Wed. Oct. 6 2010

The International Monetary Fund is predicting Canada will continue to lead G7 nations in the economic recovery this year and in 2011. The IMF says Canada's economic recovery has slowed, but it is still leading the other major developed economies. Canada's economy will expand by 3.1 per cent this year and 2.7 next year, the IMF predicts.

In its October World Economic Survey, the IMF said the "d...

BNN: Bank of Canada surveys show business optimism

Posted by Jackelyn Ford on Friday, November 26, 2010,

http://www.bnn.ca/News/2010/10/8/Bank-of-Canada-surveys-show-business-optimism.aspx
Reuters 11:57 AM, E.T. | October 8, 2010
Canadian businesses are positive about future sales, investment and hiring, but expect economic growth to be modest, due in part to the flagging U.S. economy, two Bank of Canada surveys showed on Friday.

"Responses to the autumn survey suggest that the economic recovery is progressing," the central bank said in its report on the poll results. "Firms remain positive a...

Globe&Mail - Mark Carney warns of ‘modest’ growth

Posted by Jackelyn Ford on Monday, October 4, 2010,

http://www.bnn.ca/News/2010/9/30/Mark-Carney-warns-of-modest-growth.aspx

Jeremy Torobin, The Globe and Mail - September 30, 2010

The economy will grow at a "modest pace" in the coming months amid headwinds from abroad, and as Canadian households try to attack the debt that emergency low borrowing costs allowed them to pile up during the recession, Bank of Canada Governor Mark Carney warned Thursday.

While Canada's recovery has been the envy of the Group of 7, it has relied on levels of con...

CTV - TSX closes at highest level since September 2008

Posted by Jackelyn Ford on Monday, October 4, 2010,

http://www.ctv.ca/CTVNews/Canada/20100929/tsx-stocks-commodities-2010-high-100929/

The Canadian Press - Sept. 29, 2010

TORONTO — The Toronto stock market closed at its highest level in more than two years Wednesday as rising prices lifted commodity stocks and investors took a more charitable view of market heavyweight Research In Motion and its new product.

The S&P/TSX composite index jumped 103.94 points to 12,382.82, its highest close since late September 2008, just before a worseni...

BNN - U.S. home building market recovers

Posted by Jackelyn Ford on Monday, October 4, 2010,

http://www.bnn.ca/News/2010/9/21/US-home-building-market-recovers.aspx
Reuters - September 21, 2010
U.S. housing starts increased more than expected in August to their highest level in four months and permits for future home construction rose, government data showed on Tuesday, suggesting the embattled housing market was starting to stabilize following the end of a tax credit.

The Commerce Department said housing starts rose 10.5 percent, the largest increase since November, to a seasonall...

CTV - Consumer gloom keeping economy on slow track

Posted by Jackelyn Ford on Monday, October 4, 2010,

http://www.ctv.ca/CTVNews/Canada/20100923/cdns-confidence-100923/

The Canadian Press - Sept. 23, 2010

TORONTO — Canada's once reliable consumer is emerging as a weak link in the country's economic recovery and future growth prospects.

A survey of consumer confidence for September came in as expected Thursday, suggesting Canadians are losing faith in the recovery and putting purchasing decisions off for another day. Research marketing firm TNS Canada said its consumer confidence inde...

CTV - Canada's economy likely contracted in July

Posted by Jackelyn Ford on Monday, October 4, 2010,

http://www.ctv.ca/CTVNews/Canada/20100928/canada-economy-100928/

The Canadian Press - Sept. 28, 2010

OTTAWA — Canada's almost year-long record of uninterrupted growth has likely suffered its first setback, with analysts anticipating that fresh data being released Thursday will show the economy actually got smaller in July.

The news may come as a surprise to many Canadians who are constantly reminded by the government that their economy is among the strongest in the industrialized w...

BNN - August Home Resales Jump

Posted by Jackelyn Ford on Monday, September 20, 2010,

http://www.bnn.ca/News/2010/9/15/August-home-resales-jump.aspx
Reuters - September 15, 2010

Sales of existing homes in Canada in August rose 4.1 percent from July, the first monthly increase since March, the Canadian Real Estate Association said Wednesday.

The industry group said 32,807 homes changed hands in August, with most of the monthly gains concentrated in the two biggest markets, Ontario and British Columbia, a reversal from the previous month. Compared with a year earlier, sales w...

BNN - Canada's banks the safest

Posted by Jackelyn Ford on Tuesday, September 14, 2010,

BNN.ca staff and Reuters - September 09, 2010
Canada's banking system has been judged by the World Economic Forum to be the safest in the world for the third straight year.

Finance minister Jim Flaherty commented on the results, saying "It's no wonder that international leaders around the world praise Canada's financial system as a model for others to emulate. "Today's ranking by the World Economic Forum is further evidence that Canada's model does work and is an example to the world." Flah...

BNN - New home prices dip slightly

Posted by Jackelyn Ford on Tuesday, September 14, 2010,

Reuters - September 09, 2010
New home prices edged lower in July for the first time in 13 months as a new tax regime took effect and the once-hot housing market continued to cool, according to Statistics Canada data released on Thursday.

The new housing price index slipped 0.1 percent in July, while analysts in a Reuters poll had forecast a 0.1 percent increase. Home prices climbed 0.1 percent in June.

Statscan said the introduction of a new sales tax in July in Ontario and British Columbia...

Globe&Mail - RBC cuts forecast for economy

Posted by Jackelyn Ford on Friday, September 10, 2010,

Barrie McKenna, The Globe and Mail - September 10, 2010
Royal Bank of Canada has downgraded its forecast for the Canadian economy this year and next, blaming concerns about the United States and "nervousness" about the global economy.

Canadian gross domestic product will grow 3.3 percent this year and 3.2 percent next year, according to RBC. That’s down from the 3.6 percent and 3.5-percent growth rates it had expected just three months ago.

Nonetheless, RBC chief economist Craig Wright said th...

Globe&Mail - Housing: Bubble or no bubble?

Posted by Jackelyn Ford on Thursday, September 9, 2010,

Tavia Grant, The Globe and Mail - September 08, 2010
As Canada's housing market softens, the question for many homeowners is how much prices might decline. The Conference Board of Canada waded into the debate Wednesday, saying there will not be a "free fall" in the market but rather a pause in what has been, in recent years, rapid price increases.

The comments come on the same day the Bank of Canada raised its key lending rate for the third time in a row, though it cautioned that further i...

BNN: Bank of Canada sees slower recovery

Posted by Jackelyn Ford on Thursday, September 9, 2010,

Reuters - September 08, 2010
The Bank of Canada raised its benchmark interest rate for a third consecutive time on Wednesday and sounded surprisingly hawkish despite predicting a more gradual than expected economic recovery.

The central bank nudged its overnight rate target up 25 basis points to 1 percent and, contrary to most economists' expectations, did not signal a pause for its next decision in October. It said rates remained "exceptionally stimulative" but kept all options open due to ...

BNN - Fed report shows signs growth easing

Posted by Jackelyn Ford on Thursday, September 9, 2010,

Reuters - September 08, 2010
The economy has shown "widespread signs" of slowing over recent weeks, the Federal Reserve said on Wednesday in a report suggesting the recovery was faltering along the East Coast and in the Midwest.

The Fed said in its Beige Book compilation of anecdotal reports that modest growth was the most common characterization of economic activity in Fed districts, primarily those in the western and middle portions of the country such as San Francisco, Dallas and Kansas Ci...

CTV News: Dip Once, Then Dip Again

Posted by Jackelyn Ford on Friday, August 27, 2010,

http://www.ctv.ca/generic/generated/static/business/article1686686.html

Eric Atkins – August 26, 2010

Web searches for the phrase "double-dip recession" have soared since April, according to Google

Bad economic signs

Government stimulus spending aimed at preventing a global economic collapse is running out.
Canadian inflation has been soft.
Persistent weakness in U.S. employment, durable goods orders and the real estate sector.

Good economic signs

Most ...

BNN: U.S. Jobless Claims Fall

Posted by Jackelyn Ford on Friday, August 27, 2010,

Reuters August 26, 2010

New U.S. claims for unemployment benefits fell more that expected last week but a measure of underlying labour market trends rose to a nine-month high.

Initial claims for state unemployment benefits fell 31,000 to a seasonally adjusted 473,000 in the week ended August 21, the Labour Department said.

The four-week average of new claims, considered a better measure of underlying labour market trends as it irons out week-to-week volatility, rose 3,250 to 486,750, the...

BNN - Recovery zooms, rate hike widely expected

Posted by on Tuesday, June 1, 2010,

Reuters May 31, 2010
Canada's economy expanded at the fastest clip in more than a decade in the first quarter, fueling expectations that Tuesday the Bank of Canada will become the first G7 country to raise interest rates since the start of the recession.

Statistics Canada said Monday that consumer spending, a hot housing market and a return of business investment helped boost gross domestic product by 6.1 percent at an annual rate in the quarter, the biggest jump since the fourth quarter of...

BNN: Canadian Economy Grows Again

Posted by Jackelyn Ford on Friday, April 30, 2010,

Reuters - April 30, 2010
Canada's economy grew by a healthy 0.3 percent in February, its sixth consecutive monthly increase, in another sign the recovery from last year's recession is holding firm. The figures show the economy is in line to meet the Bank of Canada's forecast for 5.7-percent annualized growth in the first quarter of 2010. First-quarter figures are due next month. "The initial stages of Canada's recovery were simply much, much more impressive than almost anyone expected," said D...