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August 2014 Canadian Economic Fundamentals

Ally

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News articles for August 2014.
 

Ally

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Canadians grow more pessimistic about economy, jobs...except in the west





OTTAWA - Canadians are becoming increasingly pessimistic about the economy and the availability of jobs ` except those in the booming West ` a new survey suggests.





The Conference Board's latest consumer confidence survey for July shows that optimism is waning or remains at very low levels in most regions of the country, except in the prairies and British Columbia.





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Canada's GDP rises more than expected in May





OTTAWA - Statistics Canada says the country's economic output increased in May by 0.4 per cent.





It was the fifth consecutive monthly rise in the real gross domestic product and came in better than was expected. Economists had expected a gain of 0.3 per cent, according to Thomson Reuters.





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Employers innovating to overcome tight labour markets in Canada





TORONTO
`Employers across Canada are employing innovative methods to combat labour shortages, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.





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Canada's most expensive housing market not headed for a crash, says credit agency





A leading credit rating agency says Canada`s most expensive housing market may not be all that affordable for the average family, but despite that no major correction is coming Vancouver`s way.





DBRS looked at 39 markets in Canada, the United States and Australia, releasing its focus feature on Vancouver Wednesday.





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Lenders open the vaults to commercial real estate





here.
 

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Canada's growth beats expectations in May, rates set to stay low








OTTAWA (Reuters) - Canada's economy grew more than expected in May, expanding for a fifth consecutive month, but most likely not enough to persuade the Bank of Canada to raise interest rates.






Statistics Canada said on Thursday that gross domestic product (GDP) grew by 0.4 percent in May from April, more than the 0.3 percent forecast by market analysts. Year-over-year growth was 2.3 percent in May, up from 2.1 percent in April.





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Why the low-interest rate trap is worrying






At a recent Toronto briefing by two senior mutual-fund managers with Fidelity Investments, the subject of inflation, interest rates and market bubbles came up.







After 68 months of central bank interest rates at or near zero in North America and Europe, increases seem to be a year or two away. Inflation is modest but showing signs of stirring. Ontario is Canada`s inflation hotspot, where the provincial rate stood at 3 per cent in June.





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Get ready for a new hiring crisis





Employers across Canada are employing innovative methods to combat labour shortages, according to a Fraser Institute study.





"While the breadth of Canada's labour shortage is debatable, tight labour markets exist in certain parts of the country, including Western Canada, where employers are taking steps to enhance their existing labour force without hiring new workers," says Philip Cross, author of the study and former chief economic analyst for Statistics Canada.





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Loonie slides as U.S. jobs data narrowly misses expectations





The Canadian dollar was lower Friday amid U.S. employment data that slightly missed expectations.





The loonie was 0.07 of a cent to 91.64 cents US, as the U.S. Labor Department said the American economy added 209,000 jobs last month while the unemployment rate ticked up 0.1 of a point to 6.2 per cent.





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Industrial GDP rises for the 5th straight month





OTTAWA - Canada's economic output picked up speed to a a 0.4 per cent pace in May, setting the stage for a second quarter expansion that is expected to help reverse the year's slow start.






Economists had anticipated May would show signs the economy was putting the weak start to 2014 behind it, especially since the U.S. reported Wednesday that its output had grown by four per cent annualized during the April to June period.





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Canadian consumers dig into their piggy banks to fuel spending and carry economy





TORONTO, Aug. 5, 2014 /CNW/ - Canadian consumers have continued to carry the economy in 2014, but rather than borrow to fuel spending, Canadians have increasingly been cracking open their piggy banks and dipping into their savings, finds a new report from CIBC World Markets.





"Though Q1 wasn't a barn burner, nominal household spending was still up by 4.2 per cent, year-on-year," says Avery Shenfeld, Chief Economist at CIBC. "Furthermore, its contribution to GDP growth continues to remain in line with its long-term average and Q2 looks poised to see an acceleration. It wasn't borrowing, but until recently, elevated confidence and its impact on savings, that provided the fuel."





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Canada and EU free trade deal clears major hurdle with deal on final text





OTTAWA - The Harper government's drive toward a free-trade deal with the European Union appears to be entering the final stages, with the announcement Tuesday that negotiators have concluded a text of the agreement.





The final wording comes after months of negotiation and disagreements over a wide range of issues that included investor protection from lawsuits as well as dairy quotas.





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TD: Commodity-rich provinces run away with wealth, jobs





Canada`s regional economic divide isn`t going anywhere, but it will narrow a little in the coming year thanks to slightly faster economic growth in the east, TD Bank says in a new report.





That said, the boom in commodity prices in recent years has made commodity-rich provinces the runaway winners when it comes to money.





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What's ailing Canada? Economists puzzle over 'humdrum' growth





OTTAWA ` Economists could be forgiven for doing as much head-scratching as actual forecasting these days.





After using up a lot of ink and airtime, analysts still are not seeing the growth in Canada that many have been predicting ` even with some improving signs on the U.S. horizon.





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Jobs data point toward demographic shifts





If Friday`s jobs report is anything like the recent past,
analysts won`t be looking at just the latest unemployment numbers.






Canada`s labour participation rate, the number of people who either have been
or are looking for employment, is at its lowest point in 13 years and the
available data are unclear about what exactly is causing the trend.






Most of the attention for monthly jobs data focuses on two numbers: the
unemployment rate and the net change in jobs.





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Canada's unemployment rate drops in July, with a mere 200 jobs





OTTAWA - Trouble in Canada's anemic jobs market continued into July as a paltry 200 jobs were added during the month, falling spectacularly short of expectations.





Economists has expected the economy to bounce back from the unexpected 9,400 decline in June by adding around 20,000 new jobs.





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Unemployment rate falls to 7% in July as Canadians leave labour market





Trouble in Canada`s jobs market extended into July as a paltry 200 jobs were added during the month, widely missing expectations.





Canada`s dollar weakened 0.4% to $1.0971 per U.S. dollar at 9:42 a.m. in Toronto. Government bonds due in five years yielded 1.49%, a decline of 3 basis points from yesterday.





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CMHC report says just 17.1% of Toronto, Vancouver condos investor-owned






Canada`s federal housing agency has tried ` yet again ` to pull back the curtain on Toronto`s and Vancouver`s condo market and says its latest survey of owners shows just 17.1 per cent are investors and 82.9 per cent own the condo in which they live.







The survey released Friday by the Canada Housing and Mortgage Corp. is sure to be widely questioned by housing watchers, especially in Toronto where investors are generally believed to control far more ` at least 40 per cent ` of the condo market.





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Canada, U.S. bankers biding time with lethargic economy





OTTAWA ` The outlook for Canada`s economy this year can best be
described as `humdrum,` the Conference Board of Canada said Tuesday.






`The unusually cold winter got economic growth to a slow start this year, but
that`s not all that is ailing the Canadian economy,` Glen Hodgson, the board`s
senior vicepresident and chief economist, said Tuesday in a new report.









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