October 2014 Canadian Economic Fundamentals
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World economic forum rates Canada's banking system world's soundest system for seventh year in a row
Finance Minister Joe Oliver today welcomed the World Economic Forum rating of Canada`s banking system as the soundest in the world for the seventh year in a row in its annual Global Competitiveness Report`further bolstering Canada`s international economic success story.
Quick Facts
Read the full article here.
Finance Minister Joe Oliver today welcomed the World Economic Forum rating of Canada`s banking system as the soundest in the world for the seventh year in a row in its annual Global Competitiveness Report`further bolstering Canada`s international economic success story.
Quick Facts
- The Canadian economy has posted one of the strongest job creation records in the Group of Seven (G-7) over the recovery, with more than 1.1 million jobs created since July 2009.
- Real gross domestic product is significantly above pre-recession levels`the best performance in the G-7.
Both the International Monetary Fund and the Organisation for Economic Co-operation and Development expect Canada to be among the strongest growing economies in the G-7 over this year and next.
Read the full article here.
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Millennial generation changing the world, one commute at a time
Sure, Millennials get a bad rap. They're entitled! They're beard-sporting hipsters! They're addicted to their smartphones! Stereotypes abound.
But, in the future, we may be thanking this generation for changing the course of transportation and urban planning.
Read the full article here.
Sure, Millennials get a bad rap. They're entitled! They're beard-sporting hipsters! They're addicted to their smartphones! Stereotypes abound.
But, in the future, we may be thanking this generation for changing the course of transportation and urban planning.
Read the full article here.
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Four economic energizers made life easier for baby boomers
As Baby Boomers head into retirement with many having spent too much and saved too little, don`t feel sorry for their plight.
Feel sorry instead for the generation that`s behind them, the Baby Bust generation, or so-called Generation X, between about 40 and 55. They have a while to go in their working life and don`t have access to the same once-in-a generation economic energizers that should have fueled an easy exit for the Boomers.
Read the full article here.
As Baby Boomers head into retirement with many having spent too much and saved too little, don`t feel sorry for their plight.
Feel sorry instead for the generation that`s behind them, the Baby Bust generation, or so-called Generation X, between about 40 and 55. They have a while to go in their working life and don`t have access to the same once-in-a generation economic energizers that should have fueled an easy exit for the Boomers.
Read the full article here.
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Canadians' sense of job security rises to highest level in three years
Rising optimism among Canadians about job security, real-estate prices and personal finances pushed a gauge of consumer confidence to the highest in more than two months, survey data show.
The share of Canadian consumers who say their jobs are at least somewhat secure rose to 70.7% in the week ended Sept. 26, the highest since September 2011, according to the Bloomberg Nanos Canadian Confidence Index.
Read the full article here.
Rising optimism among Canadians about job security, real-estate prices and personal finances pushed a gauge of consumer confidence to the highest in more than two months, survey data show.
The share of Canadian consumers who say their jobs are at least somewhat secure rose to 70.7% in the week ended Sept. 26, the highest since September 2011, according to the Bloomberg Nanos Canadian Confidence Index.
Read the full article here.
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Canadian economy stalls in July
OTTAWA ` Economic growth in Canada paused in July following a string of gains over six consecutive months, hurt by a slump in the mining and energy sector, Statistics Canada said Tuesday.
Economists had expected a gain of 0.2 per cent, according to Thomson Reuters.
But the federal agency said the real gross domestic product was essentially unchanged in July following gains of 0.5 per cent in May and 0.3 per cent in June.
Read the full article here.
OTTAWA ` Economic growth in Canada paused in July following a string of gains over six consecutive months, hurt by a slump in the mining and energy sector, Statistics Canada said Tuesday.
Economists had expected a gain of 0.2 per cent, according to Thomson Reuters.
But the federal agency said the real gross domestic product was essentially unchanged in July following gains of 0.5 per cent in May and 0.3 per cent in June.
Read the full article here.
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Canadian farmland prices reach record highs in 2014
TORONTO & KELOWNA, BC, Sept. 30, 2014 /CNW/ - The record-setting pace of growth in Canadian farmland values began to slow in 2014, according to a report released today by RE/MAX.
The RE/MAX Farm Report 2014 highlights market trends in 20 rural communities across Canada. The report shows that the price of farmland in most markets across the country made small increases or held steady over the past 12 months.
The full RE/MAX Farm Report 2014, with market activity summaries for all 20 regions, is available here: rem.ax/YCjRsm.
Read the full article here.
TORONTO & KELOWNA, BC, Sept. 30, 2014 /CNW/ - The record-setting pace of growth in Canadian farmland values began to slow in 2014, according to a report released today by RE/MAX.
The RE/MAX Farm Report 2014 highlights market trends in 20 rural communities across Canada. The report shows that the price of farmland in most markets across the country made small increases or held steady over the past 12 months.
The full RE/MAX Farm Report 2014, with market activity summaries for all 20 regions, is available here: rem.ax/YCjRsm.
Read the full article here.
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How does your property tax compare with the rest of Canada?
Looking for a reason to grumble about property taxes? Depending on what type of property you own and where, we might have one for you.
The Real Property Association of Canada (REALpac), which represents commercial real estate owners such as pension funds and real estate investment trusts, has completed its 11th annual property tax survey. The association, which advocates for lower commercial-to-residential tax ratios, has crunched the numbers for the major municipalities in Canada. The association notes that while residential and commercial tax rates have generally been declining, that doesn`t translate into significantly lower tax payments because assessment values have been on the rise.
Read the full article here.
Looking for a reason to grumble about property taxes? Depending on what type of property you own and where, we might have one for you.
The Real Property Association of Canada (REALpac), which represents commercial real estate owners such as pension funds and real estate investment trusts, has completed its 11th annual property tax survey. The association, which advocates for lower commercial-to-residential tax ratios, has crunched the numbers for the major municipalities in Canada. The association notes that while residential and commercial tax rates have generally been declining, that doesn`t translate into significantly lower tax payments because assessment values have been on the rise.
Read the full article here.
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What happened to Dutch disease? And why is the limping loonie now BAD news?
With the loonie slumping to about 89.5 cents US, the lefty policy wonks and politicians who promoted the whole concept of Dutch Disease a year or two ago don`t seem to have much to say these days.
You remember Dutch Disease, don`t you? It supposedly explained why the limping, manufacturing-based economies of Ontario and Quebec were in such dire shape, with factories closing left, right and centre.
Read the full article here.
With the loonie slumping to about 89.5 cents US, the lefty policy wonks and politicians who promoted the whole concept of Dutch Disease a year or two ago don`t seem to have much to say these days.
You remember Dutch Disease, don`t you? It supposedly explained why the limping, manufacturing-based economies of Ontario and Quebec were in such dire shape, with factories closing left, right and centre.
Read the full article here.
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Real estate market on pace for a hot autumn
There are early indications that September appears to have been another strong month for Canadian home sales.
That is based on data that some local real estate boards have released in recent days about how their housing markets fared last month. The number of existing homes that changed hands in Toronto was up 10.9 per cent from a year earlier, in Calgary it was up almost 12 per cent, and in Vancouver 17.7 per cent. And that`s in comparison to a reasonably strong month: sales in September, 2013, were slightly above the 10-year average for that month.
Read the full article here.
There are early indications that September appears to have been another strong month for Canadian home sales.
That is based on data that some local real estate boards have released in recent days about how their housing markets fared last month. The number of existing homes that changed hands in Toronto was up 10.9 per cent from a year earlier, in Calgary it was up almost 12 per cent, and in Vancouver 17.7 per cent. And that`s in comparison to a reasonably strong month: sales in September, 2013, were slightly above the 10-year average for that month.
Read the full article here.
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Top 10 Towns in the West for Real Estate Investors
Welcome to Western Investor`s second pick of the top towns and cities in Western Canada where, in our opinion, real estate investors in both the commercial and residential sector have the best chance to profit. We compile this list every two years and our outlook is based on a two-year horizon, though many of these top markets should also perform long-term.
Read the full article here.
Welcome to Western Investor`s second pick of the top towns and cities in Western Canada where, in our opinion, real estate investors in both the commercial and residential sector have the best chance to profit. We compile this list every two years and our outlook is based on a two-year horizon, though many of these top markets should also perform long-term.
Read the full article here.
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Third increase in sales in the past four months for the Montreal real estate market
The Greater Montreal Real Estate Board (GMREB) today released its residential sales statistics for the Montreal Census Metropolitan Area (CMA). According to the real estate brokers' Centris(R) provincial database, 2,552 residential sales transactions were concluded in September 2014, a 7 per cent increase compared to September of last year. This was the third increase in sales in the past four months.
"We just witnessed the best month of September since 2011 in terms of residential sales," said Diane Menard, Vice-President of the GMREB Board of Directors.
Read the full article here.
The Greater Montreal Real Estate Board (GMREB) today released its residential sales statistics for the Montreal Census Metropolitan Area (CMA). According to the real estate brokers' Centris(R) provincial database, 2,552 residential sales transactions were concluded in September 2014, a 7 per cent increase compared to September of last year. This was the third increase in sales in the past four months.
"We just witnessed the best month of September since 2011 in terms of residential sales," said Diane Menard, Vice-President of the GMREB Board of Directors.
Read the full article here.
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CIBC says elevated inflation levels unlikely to spur rates change
TORONTO, Oct. 7, 2014 /CNW/ - With inflation the sole monetary policy target in Canada, investors can't afford to ignore moves in the consumer price index, but a new report from CIBC World Markets dispels investors' concerns that elevated CPI readings will prompt the Bank of Canada to hike interest rates.
Canada's core annual inflation rate of 2.1 per cent in August -- "a hair above" the central bank's 2 per cent target - surprised the market, sparking concern that the Bank of Canada might budge from its dovish stance as the CPI was now at a two-year high. The report, however, notes that this concern is a false alarm on closer analysis of the data and reflection upon the central bank's statements.
Read the full article here.
TORONTO, Oct. 7, 2014 /CNW/ - With inflation the sole monetary policy target in Canada, investors can't afford to ignore moves in the consumer price index, but a new report from CIBC World Markets dispels investors' concerns that elevated CPI readings will prompt the Bank of Canada to hike interest rates.
Canada's core annual inflation rate of 2.1 per cent in August -- "a hair above" the central bank's 2 per cent target - surprised the market, sparking concern that the Bank of Canada might budge from its dovish stance as the CPI was now at a two-year high. The report, however, notes that this concern is a false alarm on closer analysis of the data and reflection upon the central bank's statements.
Read the full article here.
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Canadian crude oil exports to the U.S. topped 3 million bpd for the first time
CALGARY, Alberta ` Canadian crude oil exports to the United States exceeded 3 million barrels per day for the first time ever in the week ended Oct. 3, data from the U.S. Energy Information Administration showed on Wednesday.
Canada, the No. 1 supplier of crude to the United States, exported 3.248 million bpd of crude to its southern neighbor, the weekly data showed. That was up 18% from the previous week and up 35% from the same period a year earlier.
Read the full article here.
CALGARY, Alberta ` Canadian crude oil exports to the United States exceeded 3 million barrels per day for the first time ever in the week ended Oct. 3, data from the U.S. Energy Information Administration showed on Wednesday.
Canada, the No. 1 supplier of crude to the United States, exported 3.248 million bpd of crude to its southern neighbor, the weekly data showed. That was up 18% from the previous week and up 35% from the same period a year earlier.
Read the full article here.
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Condos push Canadian housing starts higher in September
TORONTO ` Canadian housing starts rose modestly in September as builders broke ground on more multiple-unit dwellings, typically condominiums, data showed on Wednesday.
The report from the Canada Mortgage and Housing Corp (CMHC) showed housing starts climbed to a seasonally adjusted annualized rate of 197,343 units last month from an upwardly revised 196,283 units in August.
Read the full article here.
TORONTO ` Canadian housing starts rose modestly in September as builders broke ground on more multiple-unit dwellings, typically condominiums, data showed on Wednesday.
The report from the Canada Mortgage and Housing Corp (CMHC) showed housing starts climbed to a seasonally adjusted annualized rate of 197,343 units last month from an upwardly revised 196,283 units in August.
Read the full article here.
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Feds tightening Canada's monetary policy may help ease Canadian household debt
Let`s face it, Canadian households have become high-functioning debtaholics. We`ve curbed our habit, but we seem either unable or unwilling to shake it on our own. But there`s some tough love on the way from our Uncle Sam that might help slap us straight.
Every time Canadians look like we`re finally getting our households in order and regaining sanity about residential real estate, we relapse. New Bank of Canada statistics show that household debts for the three months ended Aug. 31 were up at a 4.8-per-cent annualized rate, the fastest in nearly two years. Canada Mortgage and Housing Corp.`s six-month moving average for housing starts hit an annual rate of nearly 198,000 in September, the highest since the end of 2012.
Read the full article here.
Let`s face it, Canadian households have become high-functioning debtaholics. We`ve curbed our habit, but we seem either unable or unwilling to shake it on our own. But there`s some tough love on the way from our Uncle Sam that might help slap us straight.
Every time Canadians look like we`re finally getting our households in order and regaining sanity about residential real estate, we relapse. New Bank of Canada statistics show that household debts for the three months ended Aug. 31 were up at a 4.8-per-cent annualized rate, the fastest in nearly two years. Canada Mortgage and Housing Corp.`s six-month moving average for housing starts hit an annual rate of nearly 198,000 in September, the highest since the end of 2012.
Read the full article here.
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Economy adds 74,100 jobs in September
OTTAWA - Statistics Canada said Friday the country's economy generated 74,100 net new jobs last month, knocking the unemployment rate down to its lowest level in nearly six years.
The unemployment rate for September fell by 0.2 percentage points to 6.8 per cent - its lowest since December 2008.
Read the full article here.
OTTAWA - Statistics Canada said Friday the country's economy generated 74,100 net new jobs last month, knocking the unemployment rate down to its lowest level in nearly six years.
The unemployment rate for September fell by 0.2 percentage points to 6.8 per cent - its lowest since December 2008.
Read the full article here.