Alberta predicting $2.4-billion surplus for petro-powered economy
The province's budget contains a plan for legislated balanced budgets
- By: Dean Bennett, The Canadian Press
- March 1, 2023 March 1, 2023
- 10:06
The province's budget contains a plan for legislated balanced budgets
Conference Board expects oil-producing provinces to post strongest growth
Deal-makers have yet to fully adjust to prevailing economic conditions
The Statscan report showed a grimmer economy than forecasters expected as higher rates took a toll
Foreign investor interest in domestic bonds comes as the Bank of Canada is shedding its bond holdings
A third of economists expect a recession to begin in the April-June quarter
But Fed board member says current environment differs from past inflationary periods in four ways
Rate hikes push federal debt charges to $25.8 billion for first nine months
Pace of increase should get closer to normal: Desjardins chief economist
Both goods and services employment rose, while the decline in unfilled jobs levelled off
The decline reflected weak demand and decreasing energy prices
With interest rates increasing, borrowing costs add to ongoing economic challenges
Preliminary estimates for January suggest consumers continued spending in the new year
Canada among the strongest in the G7 for growth in 2022
Inflation slowed to 5.9%, down from 6.3% in December
Top 40% of households put more into their savings
Increases in bankruptcy and debt restructurings reflect rising pressures, alongside normalizing numbers, TD reports
Bank of America, Goldman Sachs predict U.S. will hike rate to 5.25% or 5.5%
Mortgage debt growth slowed in 2022, credit card debt accelerated
TD, CIBC predicting 6.2% and 6.4% respectively for January Canadian inflation
Economic “distortions” result when inflation remains above 2% target
BoC ready to raise rates further if inflation sticks around
Wage demands could moderate with economy in “middling phase”
January's solid spending will likely raise pressure on the Federal Reserve to hike rates further
Compared to a year ago, sales were down 37%