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Canadian economy posts biggest monthly gain in two years

Canada’s economy surged convincingly in May, turning in a better-than-expected rebound from its weather-dampened lull in April. Statistics Canada said Tuesday that real gross domestic product rose 0.5 per cent month-over-month on a seasonally adjusted basis, the biggest one-month gain since July, 2016. The economy bounced back from a tepid 0.1-per-cent gain in April, when […]

Posted on: August 25, 2018

Inflation hits highest level since 2011 in test to Bank of Canada’s rate hike plan

OTTAWA — Canada’s annual inflation rate in July hit its highest level in nearly seven years as gasoline prices and the cost of air transportation pushed prices higher. Statistics Canada said Friday the consumer price index for last month was up 3.0 per cent on a year-over-year basis, compared with a 2.5 per cent increase […]

Posted on: August 19, 2018

Canadian manufacturing sales top expectations, gain 1.1% in June

Canadian manufacturing sales rose more than expected in June, boosted by a 16 per cent surge in oil and coal shipments. Statistics Canada said Thursday manufacturing sales were up 1.1 per cent to $58.1 billion in June, following a 1.5 per cent increase in May. Economists had expected an increase of 0.9 per cent in […]

Posted on: August 17, 2018

Surge in part-time work in Canada offsets full-time losses as unemployment rate drops to 5.8 per cent

OTTAWA—The economy generated 54,100 net new jobs last month and saw its unemployment rate fall — but the headline improvements overshadowed weaker details: a rush of new part-time, public-sector positions and a drop in full-time work. The overall July increase in jobs pushed the unemployment rate back to its four-decade low of 5.8 per cent, […]

Posted on: August 13, 2018

Canada-Saudi Arabia Feud Could Suck Billions Out Of Canadian Economy

CALGARY — Canada can easily replace the oil it imports from Saudi Arabia should relations with the Middle Eastern kingdom deteriorate to the point that trade in crude is halted, says an energy economist. But this week’s trade tension escalation means Canada will be on the sidelines as the Saudis try to diversify their economy […]

Posted on: August 13, 2018

Canada’s job surge beats expectations, but there is a catch — actually a few

OTTAWA — The economy generated 54,100 net new jobs last month and saw its unemployment rate fall — but the headline improvements overshadowed weaker details: a rush of new part-time, public sector positions and a drop in full-time work. The overall July increase in jobs pushed the unemployment rate back to its four-decade low of […]

Posted on: August 12, 2018

Canada’s big banks stand to lose on credit card debt in the next downturn: Moody’s

The next economic downturn will result in higher credit card losses at Canadian banks than the last recession due to the “unprecedented” levels of consumer debt fuelled by the housing boom, says Moody’s Investors Service. With many Canadians already pushed to the limit by high housing costs, job losses or other “cash flow shocks” will […]

Posted on: June 12, 2018

Loonie’s strength complicates Bank of Canada interest rate decision

After the Canadian economy’s sizzling performance in the second quarter, all eyes will be on the Bank of Canada this week for a potential interest-rate hike. But there’s at least one obstacle standing in the bank’s way: a resurgent loonie. Since early May, the Canadian dollar has soared more than 10 per cent against the […]

Posted on: June 12, 2018

Loonie tops 81 cents US briefly again ahead of interest rate decision

The Canadian dollar shot up Tuesday to top 81 cents US briefly again, a day before the Bank of Canada unveils its latest decision on a key interest rate. In morning foreign exchange trading, the loonie got as high as 81.05 cents US. It later fell back to trade at 80.81 cents US, up 0.3 of a […]

Posted on: June 12, 2018

Canadian dollar is on a tear today, up almost a cent

TORONTO — The Canadian dollar strengthened against its U.S. counterpart on Tuesday as oil prices rose, while investors weighed prospects of a Bank of Canada interest rate hike as early as this week. Prices of oil, one of Canada’s major exports, climbed as the gradual restart of refineries in the Gulf of Mexico that were […]

Posted on: June 12, 2018