Team Fazi Real Estate

Because you count as 1

Tel: (778) 899-8829 |

Officials On Canadian Economy for 2019

Sherry Cooper, the chief economist of Dominion Lending Centres, has recently mentioned the following fundamental factors to impact this year’s Canadian economy:
1) Canada's economy will continue to under perform the U.S. as growth slows to 1-3/4% in 2019 compared to just over 2% in 2018. For the U.S., this year’s growth will hit about 2.4%.
2) Canada's population growth will lead the G7 by a wide margin. In 2018, Canada’s population was 1.4%, which doubles the 0.7% rate for the U.S. Despite this, however, spending did not rise Per capita GDP growth in Canada this year will under perform most of the G7. Strong (net) immigration accounted for almost half (45%) of Canada’s population increase last year. 
3) Canadian consumers are tapped out as debt levels remain high, interest rates edging upward and credit is less readily available. Foreign buying has slowed owing to foreign purchaser taxes and speculation taxes.
4) Most likely, both the Fed and the Bank of Canada will raise their benchmark overnight rate twice this year. With this increases in 2019, consumers will be impacted significantly because they are so heavily exposed to debt. Economists at the Royal Bank estimate that the average household faces a $1,000 hit from rate hikes.
5) Rising interest rates will squeeze government spending with significant debt loads.
6) In contrast to last year, housing in 2019 will not fuel Canada's national economy.
Bottom Line: Sales to new listings will continue to decline. In consequence, the number of completed and unabsorbed units continues to increase.
Comments:
No comments

Post Your Comment:

CBC | Business News

26/00/2020
Demand for sports equipment and home gyms booms as Canadians prepare for pandemic winter
Samantha

Canadians learned a lesson in the spring, when sports and fitness equipment became a scarce commodity due to the pandemic. As winter approaches, many are buying now for the season ahead, driving up prices for used goods and prompting retailers to start wait lists.

More...
Top-secret records show New Brunswick, Alberta companies received millions in suspicious transfers
Ivan Golubets 2

Top-secret records uncovered in a 16-month-long investigation by the International Consortium of Investigative Journalists, BuzzFeed News and partners show two shadowy companies, one registered in New Brunswick and one in Alberta, received millions in suspicious money transfers between 2013 and 2018.

More...
P.E.I. restaurants suffered the worst downturn in the country in July
Slaymaker and Nichols

While the pandemic hit the bottom line of restaurants across the country, as summer arrived it was restaurateurs on P.E.I. who were hit the hardest.

More...
Why stock markets are up 44% amid the worst economic contraction in history
US STOCKS traders

Millions of people have either lost their jobs or the hours they work. Heading into winter, COVID-19 cases are sharply rising and yet the stock market is posting some records. What gives?

More...
Ottawa prepares to squeeze big U.S. tech firms over loss of revenue for Canadian news outlets
Apps

Advocates for Canada’s news media sector have welcomed the federal government’s clearest pledge yet to push web giants for compensation, laid out in its throne speech. But evidence from abroad suggests it will be a long, difficult process.

More...
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.