September Monthly Survey of Manufacturing
StatsCan released September’s Monthly Survey of Manufacturing today. Overall, manufacturing sales decreased 0.6% in the month of September to $45.1 billion. The drop was seen most notably in the transportation equipment industry, which dropped 7.5% in sales, and the motor vehicle industry, which dropped 10.4%. Provincially, the most significant changes in manufacturing sales looked like […]
Sustaining Canada’s Economic Recovery Act
Last week, Jim Flaherty (the Minister of Finance) introduced the Sustaining Canada’s Economic Recover Act. This Act was developed to be a key component of Canada’s Economic Action Plan. Some of the highlights of the Act include: the implementation of Employee Life and Health Trusts taxpayers are now able to request online notices from the […]
May’s Gross Domestic Product
StatsCan just released their GDP review for May, and overall, Canada’s real gross domestic product increased by 0.1%. It had remained unchanged throughout the month of April. The breakdown per industry in May is as follows: Manufacturing incrased by 0.1% Manufacturers of non-durable goods increased by 0.8% Manufacturers of durable goods decreased by 0.4% Forestry […]
June’s Job Surge
Across Canada in the month of June, employment rose through 93,000 new jobs. (Full-time employment rose through 48,900 new jobs; part-time employment rose through 44,200 new jobs.) This resulted in a total decrease in unemployment by 0.2 per cent (bringing the unemployment rate throughout Canada to 7.9 per cent). This was nearly five times the […]
The 2010 G20 Toronto Summit: Halving Deficits
This past weekend, Toronto hosted one of the G20 summits that have been occurring twice a year since 2008. One of the hot topics on the agenda was economic recovery after our recent recession, and due to the European debt crisis that is currently underway. While there was a divide among attendees about which was […]
Signs of a Recovering Economy
In the fourth quarter last year, Canadian labour productivity experience its largest gain since the first quarter of 1998 (1.4 per cent). As well, manufacturing sales were up 2.4 per cent in January – this was unexpected, as economists had been expecting a 0.6 per cent gain. (Source) So what does this mean for us? […]
Recovery of Economy
According to a release from TD Economics today, the world economy is expected to expand by 3.8% in 2010. While this is positive, they also mention that the road to recovery will not happen easily, or overnight. While the recovery is underway, the report suggests that it will not develop the “head of stream” that […]
RBC Canadian Consumer Outlook Results
The Royal Bank of Canada polls Canadian consumers regularly. Today, the results for the most recent poll were released. We’ve heard a lot in the news that the economy is getting better, but there’s been debate over whether it actually is improving, or whether people are just being optimistic. According to the Canadian Consumer Outlook, […]
The June Thaw
Living in Canada, in almost every province, we are all very familiar with the January thaw. It is that wonderful time in the middle of the winter when the snow banks melt and you hope that it might not snow anymore while knowing that there is a long winter ahead. The economy is similar in […]
Bank of Canada Presents Strategy to Boost Economy
In its most recent monetary policy report, the Bank of Canada presented possible means to strengthen the currently feeble Canadian economy. The central bank did not offer any solid dedications, but said it could choose to pursue more “unconventional” avenues, including quantitative easing and credit easing. Bank of Canada governor Mark Carney told reporters in […]