• The Canadian labour market lost 22,000 net jobs in January and the unemployment rate edged down to 7.0%. January’s poor result should be seen as more of a pay-back for the outsized job gains seen in late 2012 when economic growth slowed. Job creation should come in around 10,000-20,000 in the next few months in a modest growth environment
• At 160,600 units in January, housing starts came in at their lowest level since July 2009, down 18.5%. The sharp January decline is not that surprising following what is believed to have been an unsustainable pace of construction in 2012. Given the current cooling of the housing market in general, Canadians should not look to residential construction as a source of strength moving forward in 2013.
• While Canada’s international trade deficit narrowed in December to $0.9 billion, both exports (-0.9%) and imports (-2.8%) declined, painting a discouraging picture of Canada’s economy at the end of 2012. Although December’s slip is hardly uplifting, export growth should bounce back in 2013 matching increased demand from the U.S.
• The U.S. trade deficit narrowed to $38.5 billion in December – its smallest level in three-years.
• Stronger-than-expected exports and weaker-than-expected imports will result in an upward revision to fourth quarter GDP growth when the second estimate comes out at the end of this month. We expect real GDP to have grown by 0.5% (annualized) rather than the 0.1% contraction initially reported.
• With the strong hand-off at the end of 2012, U.S. exports are likely to rebound in the first quarter of this year. Firmed by trade, but held back by higher taxes, we expect real GDP growth to improve to 2.0% (annualized) in Q1 2013.
Questions. We're Here to Help. Call Anytime
Dreyer Group Mortgages
About Dreyer Group Smiles
*Dreyer Group Smiles is a program dedicated to giving to facilities that provide safe and transitional housing to children and youth. By providing funds to these programs, Dreyer Group makes a difference to kids who otherwise may not have a roof over their heads, or hope for a bright future. Dreyer Group works closely with the Salvation Army to allocate funds. Facebook promotion is to a maximum donation of $1000.00
About Dreyer Group Mortgages (Top 10 Mortgage Broker Team in Canada), Member of the VERICO Brokers Network (#1 Network in Canada)
As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients, we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast.
Each VERICO member is an independently owned and operated business.
Copyright © 2008
Oh the Sweet Memories of Grade 8
So my son is going to a grade 8 dance this Friday. First ever! I came across this You Tube video, and a flood of awkward memories came back....
Click Here and Turn Up Your Sound
Follow my financial blog
Follow me on twitter
Like our Facebook
Business Page and
we'll donate .25 Cents
to Dreyer Smiles*!
CLICK FOR US TO DONATE