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Canadian households are racking up more debt, poll suggests
Canadian households are racking up more debt, poll suggests Average Canadian household owes $92,699, BMO poll suggests A new poll suggests Canadian households are piling on more debt and plan to borrow more in the short term, even though a slight rise in interest rates would “stress” most of them out. In BMO’s Annual Debt […]
Canada’s economy isn’t in recession, despite report, Joe Oliver says
Canada’s economy isn’t in recession, despite report, Joe Oliver says Private sector economists warn of possibility of recession this year Despite an economy that’s shrunk every month for which we have data this year, the federal finance minister says Canada is not in a recession and is poised for growth later in 2015. At an event […]
Seniors going bankrupt in soaring numbers
Seniors going bankrupt in soaring numbers More Canadians are outliving their savings and spending their golden years in debt Judy Southon never imagined it would come to this. She and her husband Vic had good jobs, raised a son and were homeowners. But after a run of bad luck, the 67-year-old wound up deep in debt and […]
2-income families nearly doubled from 1976 to 2014
2-income families nearly doubled from 1976 to 2014 As Canadian families change, number of stay-at-home parents plunges, but more of them are dads Families with both parents working are a substantial majority in Canada, with 69 per cent of couples with a child under 16 years of age having two incomes, according to Statistics Canada. […]
Manufacturing in Canada Sags, Triggers Chilling References to Financial Crisis
Manufacturing in Canada Sags, Triggers Chilling References to Financial Crisis It’s also happening in the US, but it’s much worse in Canada. In the US, May industrial production dropped “unexpectedly,” as it was roundly called on Monday, by 0.2%, according to the Federal Reserve. The index value has now dropped from month to month since December, […]
Oil-price drop impact on Canada lessened thanks to foreign ownership
Oil-price drop impact on Canada lessened thanks to foreign ownership Finance department memo says foreign ownership of energy sector higher than reported by StatsCan Canada has been partly insulated from the sharp drop in oil prices because so much of the energy sector is foreign owned, says an internal Finance Canada document. The Feb. 20 […]
Household Debt Soars in Canada, “Stability” at Risk
Household Debt Soars in Canada, “Stability” at Risk Debt by Canadian households is a special phenomenon. Statistics Canada reported today that in the fourth quarter, household debt set another breath-taking record. Earlier this month, even Equifax Canada, which is in the business of facilitating and increasing this indebtedness, had warned about it. The total indebtedness […]
Money Is Bailing Out of Canada
Money Is Bailing Out of Canada The floodgates opened in December. Perhaps it had something to do with oil, Canada’s number one export product, whose price went into free-fall in November and triggered extensive bloodletting in the Canadian oil patch. Or perhaps foreign investors got spooked by something else. Until then, they’d been sanguine: from […]
Don’t Believe The Headlines: Canada’s Latest Job Numbers Don’t Look Good
Don’t Believe The Headlines: Canada’s Latest Job Numbers Don’t Look Good After two months of shrinking job numbers, it looked like Canada had broken the streak with this morning’s StasCan report showing an increase of 35,400 jobs, and a decrease in the jobless rate to 6.6 per cent, from 6.7 per cent. But that is […]
Canadian manufacturing sales drop again in November
Canadian manufacturing sales drop again in November OTTAWA (Reuters) – Canadian manufacturing sales decreased by 1.4 percent in November, the third decline in four months, driven by a sharp drop in motor vehicle sales, Statistics Canada reported on Tuesday. The decline was greater than the 0.7 percent decrease that analysts surveyed by Reuters had anticipated. It […]
Canada Posts Trade Deficit In November, And It Turns We Had One In October, Too
Canada Posts Trade Deficit In November, And It Turns We Had One In October, Too OTTAWA – Canada had a larger-than-expected trade deficit in November as a drop in crude oil and bitumen led a broad decline in exports. Statistics Canada said Wednesday that the country posted a merchandise trade deficit of $644 million in […]
Canada’s GDP Stronger Than Expected In October .. Before Oil Prices Collapsed
Canada’s GDP Stronger Than Expected In October .. Before Oil Prices Collapsed. OTTAWA — Canada’s gross domestic product rose by an unexpectedly strong 0.3 per cent in October, which led several economists to consider revising their estimates for the final quarter of 2014 — although they also warned that they’re less bullish about 2015 due […]
Household Debt In Canada Hits Record 162.6% Of Income After StatsCan Revisions
Household Debt In Canada Hits Record 162.6% Of Income After StatsCan Revisions Canadian household debt reached an all-time high in the third quarter of 2014,Reuters reports. Average household debt reached 162.6 per cent of average household disposable income in the quarter. Statistics Canada revised its estimates for the previous three years downward, so the […]
