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March 2014 Canadian Economic Fundamentals

Ally

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Buying a home on your own could make a great investment - just make sure you've got the right plan





TORONTO ` The thought of buying a home on your own may seem a little daunting, but that`s exactly what many single professionals are choosing to do.





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Ally

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Canada ranks second in the world for 'best countries for business'





Bloomberg, a global financial media company, has listed Canada as the second most attractive country for business in the world according to its annual "Best Countries for Business" 2014 rankings.





Hong Kong secured the top spot on the list for the third year in a row. The U.S. and Singapore were ranked third and fourth respectively. Germany and Australia tied for fifth spot.





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Ally

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More self-employed hitting mortgage wall because of recent rule changes





For years, most of Marg Green`s self-employed clients could count on getting a mortgage on the strength of their credit score, and on their word that they were earning enough from their business to repay the loan.





These days, because of rules brought in almost two years ago by the regulator of the country`s chartered banks, borrowing money to buy a home has become harder for many of the country`s 2.75 million self-employed workers ` a group that, according to Statistics Canada, has a higher median net worth than paid employees.





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Ally

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Canada's economy bounces back, grows 0.5% in January





Canada`s economy grew 0.5 per cent in January, reversing the effects of the December ice storm in Eastern Canada.





The bounce-back was anticipated by economists after a 0.5 per cent contraction in gross domestic product in December, when a winter storm knocked out power to hundreds of thousands of homes and businesses.





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Ally

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Unreliable jobs data cloud labour picture








Much mockery was made last week over revelations the federal government relies, in part, on Kijiji ads to help calculate job vacancies. But the debate over the degree to which Canada is experiencing labour shortages ` and just how many job openings are going unfilled ` highlights a serious issue: This country`s jobs picture is still very fuzzy.





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