December 2013 Canadian Economic Fundamentals
- Thread starter Ally
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Canadian housing starts in sweet spot
Canadian new home starts have been remarkably consistent over the past six months. Their average of 196,000 units seasonally adjusted and annualize (SAAR) has moved within a narrow range from a high of 200,000 in May to a low of 186,000 in August.
The figure in the latest month, October, was 198,000 units, according to Canada Mortgage and Housing Corporation (CMHC). A year ago, in October 2012, the level was 209,000 units.
Read the full article here.
Canadian new home starts have been remarkably consistent over the past six months. Their average of 196,000 units seasonally adjusted and annualize (SAAR) has moved within a narrow range from a high of 200,000 in May to a low of 186,000 in August.
The figure in the latest month, October, was 198,000 units, according to Canada Mortgage and Housing Corporation (CMHC). A year ago, in October 2012, the level was 209,000 units.
Read the full article here.
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In a slow season, opportunity knocks
Tradition has it that Toronto`s fall real estate market succumbs to the first dusting of snow.
Last week, agents were taking fewer calls for new listings. The squalls that hit the Greater Toronto Area on the weekend pretty much finished off the 2013 market.
People who call agents for evaluations now will most likely be advised to hold off listing until February if they can.
Read the full article here.
Tradition has it that Toronto`s fall real estate market succumbs to the first dusting of snow.
Last week, agents were taking fewer calls for new listings. The squalls that hit the Greater Toronto Area on the weekend pretty much finished off the 2013 market.
People who call agents for evaluations now will most likely be advised to hold off listing until February if they can.
Read the full article here.
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Canada GDP beats forecasts
Canada`s economy picked up speed in the third quarter to grow at the fastest pace in two years but questions remain about the underlying strength in the economy and the Bank of Canada is seen keeping interest rates on hold until well into 2015. Here`s what the economists say:
Read the full article here.
Canada`s economy picked up speed in the third quarter to grow at the fastest pace in two years but questions remain about the underlying strength in the economy and the Bank of Canada is seen keeping interest rates on hold until well into 2015. Here`s what the economists say:
Read the full article here.
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Canada's economy beats forecasts with fastest growth in 2 years
OTTAWA ` Canada`s economy geared up in the third quarter of this year, as expected, with households continuing to drive much of the growth.
Gross domestic product expanded at an annualized pace of 2.7% between July and September ` the biggest jump in two years ` following a downwardly revised 1.6% increase in the previous quarter, Statistics Canada said Friday.
Read the full article here.
OTTAWA ` Canada`s economy geared up in the third quarter of this year, as expected, with households continuing to drive much of the growth.
Gross domestic product expanded at an annualized pace of 2.7% between July and September ` the biggest jump in two years ` following a downwardly revised 1.6% increase in the previous quarter, Statistics Canada said Friday.
Read the full article here.
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Steady but subdued growth expected for Canada job market
Jobs data have painted a mixed picture of the labour market this fall, with hiring in some sectors (education and utilities) offsetting weakness in others (construction and manufacturing).
As a result, net employment hasn`t changed much in recent months. Wage growth, though muted, continues to outpace inflation.
Read the full article here.
Jobs data have painted a mixed picture of the labour market this fall, with hiring in some sectors (education and utilities) offsetting weakness in others (construction and manufacturing).
As a result, net employment hasn`t changed much in recent months. Wage growth, though muted, continues to outpace inflation.
Read the full article here.
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Canada file gigantic arctic claim this week
Some time this week, Canada is expected to make its case to the world to dramatically expand its boundaries by an area equivalent to the size of all three Prairie Provinces.
Canada's deadline is Friday to apply to a United Nations commission for exclusive rights to what is likely to be another 1.7 million square kilometres of Arctic sea floor. The application under the Convention on the Law of the Sea will be the culmination of a decade of work and more than $200 million in public money.
Read the full article here.
Some time this week, Canada is expected to make its case to the world to dramatically expand its boundaries by an area equivalent to the size of all three Prairie Provinces.
Canada's deadline is Friday to apply to a United Nations commission for exclusive rights to what is likely to be another 1.7 million square kilometres of Arctic sea floor. The application under the Convention on the Law of the Sea will be the culmination of a decade of work and more than $200 million in public money.
Read the full article here.
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Investors have plenty to think about
Investors will have plenty to take in as the last month of 2013 begins, including the Bank of Canada's next interest rate announcement on Wednesday.
In addition, a slew of top-drawer economic data could provide clues about when the Federal Reserve might start cutting back its monetary stimulus.
Read the full article here.
Investors will have plenty to take in as the last month of 2013 begins, including the Bank of Canada's next interest rate announcement on Wednesday.
In addition, a slew of top-drawer economic data could provide clues about when the Federal Reserve might start cutting back its monetary stimulus.
Read the full article here.
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A new bridge over the St. Lawrence for 2018
MONTREAL, Dec. 1, 2013 /CNW/ - The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, today announced a new accelerated timeline for the construction of the new bridge for the St. Lawrence.
"We will deliver the new bridge for the St. Lawrence in 2018, three years earlier than originally planned," said Minister Lebel. "In fact, concrete actions to move the project ahead have already been taken."
Read the full article here.
MONTREAL, Dec. 1, 2013 /CNW/ - The Honourable Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, today announced a new accelerated timeline for the construction of the new bridge for the St. Lawrence.
"We will deliver the new bridge for the St. Lawrence in 2018, three years earlier than originally planned," said Minister Lebel. "In fact, concrete actions to move the project ahead have already been taken."
Read the full article here.
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Canadian economy riding high in Q3
Canada`s economic growth was stronger than expected in the third quarter, advancing at an annualized rate of 2.7 per cent, Statistics Canada reported recently.
That was two-tenths of a point above estimates and more than a full percentage point above the weak second quarter, which Statistics Canada revised downward to 1.6 per cent from 1.7 per cent.
Read the full article here.
Canada`s economic growth was stronger than expected in the third quarter, advancing at an annualized rate of 2.7 per cent, Statistics Canada reported recently.
That was two-tenths of a point above estimates and more than a full percentage point above the weak second quarter, which Statistics Canada revised downward to 1.6 per cent from 1.7 per cent.
Read the full article here.
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Good times at Canada's banks look to continue despite warnings
The good times for Canadian banks aren't over, despite a growing number of warnings from Big Six executives.
Some of the country's biggest lenders started sounding alarms during the past quarter, stressing the need for banks to curtail expenses as they head into an era where earnings growth is expected to be harder to come by.
Read the full article here.
The good times for Canadian banks aren't over, despite a growing number of warnings from Big Six executives.
Some of the country's biggest lenders started sounding alarms during the past quarter, stressing the need for banks to curtail expenses as they head into an era where earnings growth is expected to be harder to come by.
Read the full article here.
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Current condo development in Canada's three largest cities supported by economic growth and sustainable housing demand
TORONTO, Dec. 3, 2013 /CNW/ - If the abundance of construction hoardings and a sky full of rising towers are any indication, Canada's largest cities are experiencing an unprecedented condo boom, a growth trajectory that has some expressing concern about the sustainability of the market. With more condominium construction in recent years than the market would appear to be able to absorb based on demographic trends alone, Royal LePage's new report outlines the economic and social factors behind the enduring demand for this type of housing. The study also considers how condominiums as a housing class fit into the overall housing market and how their role continues to evolve.
Read the full article here.
TORONTO, Dec. 3, 2013 /CNW/ - If the abundance of construction hoardings and a sky full of rising towers are any indication, Canada's largest cities are experiencing an unprecedented condo boom, a growth trajectory that has some expressing concern about the sustainability of the market. With more condominium construction in recent years than the market would appear to be able to absorb based on demographic trends alone, Royal LePage's new report outlines the economic and social factors behind the enduring demand for this type of housing. The study also considers how condominiums as a housing class fit into the overall housing market and how their role continues to evolve.
Read the full article here.
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What's happening to housing statistics in Canada?
Over the past few weeks the various media have inundated us with housing projections, prophecies and prognostications.
The housing market is going up -- or going down! (compared to what?)
What do those headlines even mean? Are housing starts up? Are housing prices up? Are the number of homes sold up? Or are more and more people building and living in concrete high rises?
Read the full article here.
Over the past few weeks the various media have inundated us with housing projections, prophecies and prognostications.
The housing market is going up -- or going down! (compared to what?)
What do those headlines even mean? Are housing starts up? Are housing prices up? Are the number of homes sold up? Or are more and more people building and living in concrete high rises?
Read the full article here.
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Alberta now has a lower tax rate on the super rich than the U.S.
A few weeks into 2013, a tax report landed on Allan Walsh's desk. What it showed gave the Montreal-born hockey agent pause: as of the beginning of the year, the best place for NHL stars to play, tax-wise, wasn't Florida, Tennessee or Texas, but somewhere in his home and native land-Alberta.
The expiry of the Bush tax cuts on Jan. 1, as part of the "fiscal cliff" deal, has returned the U.S. top federal marginal income tax rate to 39.6%, up from 35%. That's higher than Canada's 29% highest federal rate and Alberta's 10% flat provincial rate combined. In other words, Alberta now has the lowest marginal tax rate for high-income earners in North America-even lower than U.S. states with no state income tax at all.
Read the full article here.
A few weeks into 2013, a tax report landed on Allan Walsh's desk. What it showed gave the Montreal-born hockey agent pause: as of the beginning of the year, the best place for NHL stars to play, tax-wise, wasn't Florida, Tennessee or Texas, but somewhere in his home and native land-Alberta.
The expiry of the Bush tax cuts on Jan. 1, as part of the "fiscal cliff" deal, has returned the U.S. top federal marginal income tax rate to 39.6%, up from 35%. That's higher than Canada's 29% highest federal rate and Alberta's 10% flat provincial rate combined. In other words, Alberta now has the lowest marginal tax rate for high-income earners in North America-even lower than U.S. states with no state income tax at all.
Read the full article here.
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Rebound continues in Canada's housing market
Home sales continued to be strong in a number of major cities in November, with preliminary local data indicating that the country`s housing market is still rebounding.
The number of homes that changed hands by way of the MLS system in greater Toronto last month came in 13.9 per cent higher than a year earlier, the Toronto Real Estate Board said Wednesday.
Read the full article here.
Home sales continued to be strong in a number of major cities in November, with preliminary local data indicating that the country`s housing market is still rebounding.
The number of homes that changed hands by way of the MLS system in greater Toronto last month came in 13.9 per cent higher than a year earlier, the Toronto Real Estate Board said Wednesday.
Read the full article here.
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Canadian building permits rise as housing work approaches record
Canadian building permits rose a second month in October as residential projects approached a record.
The value of municipal permits rose 7.4 percent to C$7.19 billion ($6.75 billion), Statistics Canada said today in Ottawa. Economists forecast a 1 percent gain according to the median of nine responses to a Bloomberg survey.
Read the full article here.
Canadian building permits rose a second month in October as residential projects approached a record.
The value of municipal permits rose 7.4 percent to C$7.19 billion ($6.75 billion), Statistics Canada said today in Ottawa. Economists forecast a 1 percent gain according to the median of nine responses to a Bloomberg survey.
Read the full article here.
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The boomer bust
We are the generation that changed everything. Of all the eras and epochs of Americans, ours is the one that made the biggest impression`on ourselves. That's an important accomplishment, because we're the generation that created the self, made the firmament of the self, divided the light of the self from the darkness of the self, and said, "Let there be self." If you were born between 1946 and 1964, you may have noticed this yourself.
Read the full article here.
We are the generation that changed everything. Of all the eras and epochs of Americans, ours is the one that made the biggest impression`on ourselves. That's an important accomplishment, because we're the generation that created the self, made the firmament of the self, divided the light of the self from the darkness of the self, and said, "Let there be self." If you were born between 1946 and 1964, you may have noticed this yourself.
Read the full article here.
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Pipeline adds billions to economy, study finds
Canada`s pipeline industry is expected to add $130 billion to the country`s economy over the next three decades, according to a study released Friday by the Canadian Energy Pipeline Association.
The study, the first of its kind in Canada, was prepared by Angevine Economic Consulting. It does not include what the transmission pipeline industry could add to the Canadian economy if some of the major projects being planned were to become operational.
Read the full article here.
Canada`s pipeline industry is expected to add $130 billion to the country`s economy over the next three decades, according to a study released Friday by the Canadian Energy Pipeline Association.
The study, the first of its kind in Canada, was prepared by Angevine Economic Consulting. It does not include what the transmission pipeline industry could add to the Canadian economy if some of the major projects being planned were to become operational.
Read the full article here.
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Rebound continues in Canada's housing market
Home sales continued to be strong in a number of major cities in November, with preliminary local data indicating that the country's housing market is still rebounding.
The number of homes that changed hands by way of the MLS system in greater Toronto last month came in 13.9 percent higher than a year earlier, the Toronto Real Estate Board said Wednesday.
Read the full article here.
Home sales continued to be strong in a number of major cities in November, with preliminary local data indicating that the country's housing market is still rebounding.
The number of homes that changed hands by way of the MLS system in greater Toronto last month came in 13.9 percent higher than a year earlier, the Toronto Real Estate Board said Wednesday.
Read the full article here.