The budget agreement reached by congressional Democrats and Republicans would provide only a modest boost to the U.S. economy. The psychological effect is likely to be a lot greater.
Trucking companies may need to put more vehicles on the road to support a recovery in U.S. residential construction, which might send their shares higher.
A Middle Eastern royal’s purchase in May of the penthouse suite and unit below it at Vancouver’s five-star Fairmont Pacific Rim hotel for C$40 million ($39 million) was the most expensive condominium purchase in Canada.
Canada posted the fourth highest trade deficit on record in November as shipments to Europe fell, suggesting the country’s economy is struggling to emerge from an export-driven slump.
Canada’s economy lost the most jobs since the 2009 recession during October, led by declines in the manufacturing and construction industries, cementing projections that the recovery is slowing.
The Canadian dollar strengthened against its U.S. counterpart for the third day as investors seek higher-yielding currencies of commodity-exporting nations.
Industrial production in the U.S. probably climbed in April for a sixth consecutive month, while homebuilding hovered near recession lows, economists said before reports today.
Canadian employment rose in line with economist forecasts in April as manufacturers added the most jobs in 11 months, adding to evidence of a modest expansion.
Canada’s consumer prices advanced at the fastest pace in two years last month, exceeding all economist forecasts, as gasoline prices surged.
Bank of Canada Governor Mark Carney will offer a rationale today for why his next move may be a rate increase even as he reduces Canada’s growth forecast and investors bet on a cut.
"We were in the soft-landing camp but, much to our surprise, the numbers came in stronger than we anticipated."
- Sal Guatieri on Sep 19, 2013