Economy

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Economic Indicators

Real estate investment faces challenges

While Canada’s residential real estate market posted its largest year-over-year gain in two years this July, its commercial real estate sector still faces “trying times” and significant obstacles that could send some owners into creditor protection, according to a PricewaterhouseCoopers (PwC) report. The report blames tight industry lending conditions; poor investor appetite for commercial mortgage-backed […]

By Kanupriya Vashisht |August 17, 2009

5 min read

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Economic Indicators

Economy struggled in May

Canada’s GDP contracted by 0.5% in May, posting a slightly worse performance than the 0.3% contraction analysts had predicted. The malaise in the goods-producing sector led the decline as manufacturing activity dropped by 1.6% in May. With the Canadian dollar at its highest point since October 2008, recovery in manufacturing could be held back. The […]

By Rayann Huang |July 31, 2009

3 min read

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Economic Indicators

Bay Street bullish, Canadians less so

Canadians remain guarded about their financial wellbeing, despite a steady stream of positive news bolstering the market, according to the latest Russell Financial Health Index (RFHI) — an online calculator that gauges the overall financial health of investors on a quarterly basis. The index fell to 48.50 points from April to June 2009, down from […]

By Kanupriya Vashisht |July 23, 2009

2 min read

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Economic Indicators

Welcome to the trough: BoC

While the Bank of Canada’s Monetary Policy Report confirms the outlook for growth in 2009 and 2010 will remain broadly unchanged from its April Report, it has considerably toned down the risk of a sustained economic decline. At the time of the April Report, the Bank had projected the recession in Canada would deepen further […]

By Kanupriya Vashisht |July 23, 2009

4 min read

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Economic Indicators

Bank of Canada’s optimism questioned

As promised months earlier, the Bank of Canada chose to stand pat on holding its current overnight lending rate at 0.25% until the second quarter of 2010. With this announcement came some of the rosiest economic predictions seen in months. In the decision statement, the bank said the “dynamics of the recovery” in Canada remain […]

By Mark Noble |July 21, 2009

5 min read

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Economic Indicators

Export sector a hostage of global economy

Canada’s export sector will continue to struggle through 2009 and well into 2010, as the global economy shakes off the recession, according to Export Development Canada. Total export value for 2009 will be off 21% compared to 2008, and the EDC predicts only 6.6% growth in 2010. “The good news is that global commerce is […]

By Steven Lamb |July 9, 2009

2 min read

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Economic Indicators

Global recovery to ramp up in 2011

Stock values and commodity prices may be on the rise, and there has not been a major bank failure in months, but it is still too early to say a global economic recovery is underway, according to one think-tank. “Expectations of ‘green shoots’ haven’t been met,” says Nariman Behravesh, chief economist for IHS Global Insight. […]

By Steven Lamb |June 30, 2009

2 min read

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Economic Indicators

We’re still in recession: World Bank

Hopes that the recession may be drawing to a close were dashed Monday, as the World Bank issued a rather desolate forecast for global economic growth and trade — of output falling by 2.9%; world trade by nearly 10%; and private capital flows likely to plummet from $707 billion in 2008 to an anticipated $363 […]

By Kanupriya Vashisht |June 22, 2009

2 min read

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Economic Indicators

Canadian net worth still in decline

Canadian household net worth declined by $72 billion for the first quarter of 2009, a much slower rate of decline than recorded in the last two quarters of 2008, which resulted in cumulative losses of $438 billion, according to StatsCan. Compared to the U.S., where household net worth fell by 2.6%, Canadians are faring a […]

By Rayann Huang |June 22, 2009

2 min read

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Economic Indicators

Execs focus on costs, see recovery in 2010

The Canadian economy should recover in early 2010, but the road to earnings growth will not be the same for all sectors, according to a survey of more than 200 senior financial executives. “We expect Canada will experience uneven recovery and growth across the country,” said Ramona Dzinkowski, executive director of the Canadian Financial Executives […]

By Steven Lamb |June 17, 2009

2 min read

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