A star-spangled recovery: Why the U.S. economy is showing signs of life It`s not quite the recovery that anyone wanted, but it`s a recovery all the same. The world`s largest economy is still rumbling along in third gear. Unemployment remains too high for comfort; there are nearly 12...

U.S. revival to inject life into Canadian economy, but not until 2014 OTTAWA - Canada's recovering economy hit a major pothole Friday with a manufacturing report showing activity in the country's factories slumped 2.4 per cent in April, the worst decline in almost four years. As well...

Harper battles oilsands 'dirty' reputation in Europe Prime Minister Stephen Harper is appealing to his European peers to stop EU plans to single out Alberta`s oilsands as a source of high-polluting energy as the country struggles to find new markets for its oil. Harper pushed the issue...

More people are turning to mortgage brokers for home financing Canadian home sales have done well since the recession, but there are signs of slowing. The National Bank Composite House Price Index was up just 2% year on year in April 2013. This is the smallest increase in its 15 year history...

U.S. weekly unemployment benefit applications drop WASHINGTON - The number of Americans seeking unemployment benefits dropped 12,000 to a seasonally adjusted 334,000 last week, a hopeful sign that steady job gains will continue. The Labor Department says the four-week average, a less...

90,000 new jobs in Montreal by 2016 The next three years will bring 90,000 new jobs to Montreal, according to a new report released today by BMO Economics. The report notes Montreal`s employment rate is already near a record high, with the jobless rate at 8.2%. `Over the medium term, we...

Stoney Creek sees price of economic success Stoney Creek is in the midst of a building boom, following its former municipal cousins across the city, as they contribute to a low industrial vacancy rate that has officials worried, says the city`s economic development director. As...

Overheated condo market sheds dark cloud over Canadian economy OTTAWA ` An overbuilt and overpriced condominium market is posing a risk to Canadian households, banks and the economy in general, the Bank of Canada warned Thursday in its latest review of the health of the country`s financial...

Two views on jobs and economy One is that Canada weathered the financial crisis better than any other G-7 country, and that we have more jobs today than before the financial crisis. In other words, we are doing reasonably well. The other view is that while we have more jobs than before...

Why rising mortgage rates won't tank the economy Earlier this week, some Canadian banks hiked the fixed rate on their five-year mortgage term by 20 basis points to 3.29%. Not surprisingly, housing bears are proclaiming that mortgage rates are now in an uptrend that will collapse the housing...

What's really wrong with Canada's growth market? Behind the headline that is our national unemployment rate ` 7.1% at last count, according to Statistics Canada ` is a remarkable story about something called job quality. To understand the labour market, it is necessary to measure more than...

Newfoundland and Labrador expected to lead Canada's economic growth Newfoundland and Labrador is on pace to economically outperform all provinces this year and next, according to new research released Wednesday by the Conference Board of Canada. Oil production in the province is...

Hamilton struggling with lack of industrial lands STONEY CREEK Neil Everson is a little like a car salesman standing in a near empty showroom. He has the skill to make the sale, but no products to sell. Hamilton's director of economic development told the Stoney Creek Chamber of Commerce...

St. Catharines-Niagara home starts ease to sustainable level NIAGARA ` Housing starts in the St. Catharines-Niagara census metropolitan area were trending at 1,428 units in May compared to 1,481 in April, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six...

Burnaby and New West multi-family units selling best Burnaby and New Westminster have the multi-family housing markets that Colliers International is most upbeat about in Metro Vancouver, according to a report the real-estate firm released May 17. Those cities were the only ones...

Deep Panuke seen as Nova Scotia economic driver The billion-dollar Deep Panuke natural gas project will play a significant role in Nova Scotia`s economy in 2013-14, says the Conference Board of Canada. `It is a fairly large project,` said Marie-Christine Bernard in an interview from...

No easy solution to development changes, Halifax mayor says City hall wants more people living downtown, even though there`s debate over how far the regional plan should go to achieve that, Mayor Mike Savage said Wednesday. The mayor told a Downtown Halifax Business Commission luncheon...

World Bank cuts growth outlook WASHINGTON (Reuters) - The World Bank cut its outlook for global growth, saying the economy should expand more slowly this year than last as it cited a deeper-than-expected recession in Europe and a recent slowdown in some emerging markets. In its...

Calgary top contributor in national advance for new home prices CALGARY ` For the third straight month, Calgary was the top contributor in April to the national advance for new home prices. Statistics Canada reported Thursday that its New Housing Price Index rose by 0.5 per cent in...

Overbuilt condo market puts Canadian economy at risk: BoC OTTAWA ` An overbuilt and overpriced condominium market is posing a risk to Canadian households, banks and the economy in general, the Bank of Canada warned Thursday in its latest review of the health of the country`s financial...