Alberta’s river forecasters knew two days in advance that heavy rains would likely hit the foothills of the Rockies, but didn’t sound the alarm until after the skies opened up on the eve of the province’s worst flooding.
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This Great Graphic comes from The Economist. It depicts world GDP on a year-over year basis for the world, high income countries, the BRICS and other emerging markets.
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TORONTO – Canada’s growth outlook appears to be stronger than previously thought, thanks to an improving trade picture and the strength of corporate balance sheets, economists at the Royal Bank of Canada said Wednesday.
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VANCOUVER, BC, Jun 5, 2013/ Troy Media/ – The global recovery remains uneven and slow with regional weakness in Europe, slowing but still substantial growth in China, a moderate U.S. expansion, and sluggish commodity-based economies.
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EDMONTON — Alberta’s fiscal situation has been improving recently, but that doesn’t mean the provincial government is set to open the taps on spending, Finance Minister Doug Horner said Monday as the 2013 budget received royal assent.
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The Bank of Canada once again predicted on Wednesday a delayed return to desired economic growth rates, but it left interest rates unchanged and repeated that at some point it would probably tighten monetary policy.
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Companies are taking advantage of record-low interest rates and strong demand for corporate bonds to bulk up their growing piles of cash, holding on to those reserves in part as an insurance policy against economic turmoil.
A new Royal Bank of Canada analysis shows that many companies are building up cash on their balance sheets, “biding their time until the economic environment calms down,” before spending it, RBC economist David Onyett-Jeffries said.
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Canada Mortgage and Housing Corp. has tempered its rosy outlook for Red Deer’s residential construction sector, but continues to forecast an increase in housing starts both this year and next.
The national housing agency is now projecting that there will be 605 housing starts in the city this year: 330 single-detached homes and 275 units in multi-family projects.
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After slowing down in 2012, the Canadian economy is expected to gain new momentum in 2013, the IMF said in its annual review of the country’s economy.
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Some people are predicting a crash in the Canadian housing market because price-to-income and price-to-rent ratios have gone up a lot. But these ratios omit mortgage rates, a key determinant of prices. A better guide, in my view, is the housing affordability index published by Royal Bank of Canada (RBC).
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