OTTAWA, Aug 29 (Reuters) – Strong consumer spending and a
jump in exports helped the Canadian economy bounce back from a
weather-restrained first quarter, with annualized growth of 3.1
percent in the second quarter after a downwardly revised 0.9
percent in the first.
The Statistics Canada data on Friday showed gross domestic
product growing at its fastest pace since the third quarter of
2011, beating the Bank of Canada’s July forecast of 2.5 percent
and exceeding market expectations of 2.7 percent.
OTTAWA, Aug 22 (Reuters) – Canada’s annual inflation rate
softened more than expected in July and the core rate
unexpectedly fell, Statistics Canada said on Friday, but the
surprise decline is not likely to worry the central bank.
The July figure comes after annual inflation rose to a
28-month high in June. Bank of Canada Governor Stephen Poloz
shrugged off that surge as temporary.
TORONTO/OTTAWA July 23 (Reuters) – Canada quietly issued new
details on rail safety regulation last week that included
specifications for the next generation of tank cars that are
tougher than some of the options proposed by the U.S. Department
of Transportation on Wednesday.
The safety proposals by Transport Canada for hauling
dangerous goods, released online on Friday, builds on measures
first announced in April that will require older DOT-111 rail
cars used for carrying crude oil be phased out by May 2017.
OTTAWA, July 23 (Reuters) – Strong car sales helped push
Canadian retail trade up by 0.7 percent in May to a new record
C$41.98 billion ($39.23 billion), Statistics Canada reported on
Wednesday, pointing to continued energy in the economy despite a
weak first quarter.
Sales by motor vehicle and parts dealers, which account for
just under one quarter of total retail sales, were up 2.5
percent. Excluding this sector, retail sales rose 0.1 percent,
and excluding the auto sector and gasoline, retail sales were
down 0.3 percent. The figures are adjusted for seasonal factors.
OTTAWA (Reuters) – Shrugging off a recent surge in inflation as temporary, the Bank of Canada held its key overnight interest rate at 1 percent on Wednesday, as expected, and insisted it could just as easily cut rates as raise them.
In the statement that accompanied the rate decision, the bank, however, did omit language it had used in its June rate statement that said the downside risks to its inflation outlook remain important, an acknowledgement that overall inflation hit 2.3 percent in May and that core inflation was also higher than expected.
OTTAWA, July 9 (Reuters) – Two more provinces, Saskatchewan
and New Brunswick, signed up on Wednesday for a plan to create a
national securities regulator in Canada, joining Ontario,
British Columbia and the federal government in a project
designed to end a patchwork of local regulation.
At a signing ceremony in Ottawa, federal Finance Minister
Joe Oliver called on Canada’s other six provinces and three
territories to take part in the plan, which he called an
important nation-building project. “Canada has a problem,” he
said, with 13 provincial and territorial regulators instead of
one common one.
OTTAWA, July 7 (Reuters) – Fewer Canadian firms expect to
have difficulty meeting a surge in demand than did in the first
quarter, the Bank of Canada said on Monday in a sign that
pressures on production capacity are lessening rather than
The central bank’s quarterly Business Outlook Survey said
overall business sentiment was little changed in the second
quarter, with expectations for sales growth remaining positive
and continued indications that business export sentiment is
OTTAWA, July 3 (Reuters) – A resurgence in Canadian exports
after they were hampered by plant maintenance helped cut the
country’s trade gap to C$152 million ($143 million) in May from
C$961 million in April, despite record imports, Statistics
Canada said on Thursday.
Exports rose by 3.5 percent to the second highest level ever
at a seasonally adjusted C$44.17 billion, exceeded only in July
2008, with volumes up 4.2 percent. Analysts, however, were
divided on the impact of the trade upturn on Canada’s
still-tepid economic growth.
OTTAWA, July 2 (Reuters) – Australia, this year’s G20 chair,
sees little consensus among the Group of 20 leading economies to
take major new steps on climate change, senior official Heather
Scott said on Wednesday.
Scott, the personal representative or G20 sherpa of
Australian Prime Minister Tony Abbott, is helping shape the
agenda for November’s G20 summit in Brisbane, and spoke of the
importance of finding agreement across the group.
OTTAWA, June 30 (Reuters) – Justin Trudeau’s Liberals picked
up another seat in the Canadian House of Commons on Monday, but
more importantly added to their claim to be the main alternative
to Prime Minister Stephen Harper’s Conservatives ahead of the
2015 general election.
Four vacant House seats were filled in Monday’s elections.
The Conservatives held on to two in their stronghold of the
western province of Alberta and the Liberals held one
Toronto-area seat, but seized another Toronto district from
their rivals on the left, the New Democratic Party (NDP).