Despite slower US growth, housing is lifting hopes

TORONTO — Toronto ranked as the fastest growing economy in the country last year, but a new study from CIBC suggests Canada’s biggest city will be hard pressed to maintain that growth trajectory. The report on the economic strength of major Canadian cities, released Thursday, found Toronto ranked tops amongst its peers in the first nine months of 2012, helped by a recovery in the manufacturing sector and a surge in condo sales. But those two factors could also be significant pressures on future growth in 2013.

WASHINGTON — A survey shows U.S. manufacturing activity expanded more slowly in March than February, held back by weaker growth in production and new orders. But factories hired at the fastest pace in nine months, an encouraging sign ahead of Friday’s report on March employment. The Institute for Supply Management said Monday that its index of factory activity slipped to 51.3 percent. The index fell from 54.2 percent in February, which was the fastest growth since June 2011. A reading above 50 indicates expansion. The index has signaled growth for four straight months.

WASHINGTON — A survey shows U.S. manufacturing activity expanded more slowly in March than February, held back by weaker growth in production and new orders. But factories hired at the fastest pace in nine months, an encouraging sign ahead of Friday’s report on March employment. The Institute for Supply Management said Monday that its index of factory activity slipped to 51.3 percent. The index fell from 54.2 percent in February, which was the fastest growth since June 2011. A reading above 50 indicates expansion. The index has signaled growth for four straight months.

WASHINGTON — U.S. service companies grew at a slightly slower pace in October than September because of a decline in new orders. But a measure of employment rose, indicating services firms hired more. The Institute for Supply Management said Monday that its index of non-manufacturing activity fell to 54.2. That’s down from a six-month high of 55.1 in September. Any reading above 50 indicates expansion. The report measures growth in a broad range of businesses from retail and construction companies to health care and financial services firms.

Deeper spending cuts by state and local governments slowed U.S. economic growth in the final three months of last year.

Add this factoid to the many others concerning the poor state of customer service, right alongside the one about how we collectively lose $38 billion annually waiting around for the cable guy to show up. According to a new poll, most American consumers (53%) say that they spend 10 to 20 minutes on hold each and every week. That 15 minutes or so per week adds up to 780 minutes per year—or 13 hours annually—spent waiting for a company that swears via automated message “we care about your business” to answer the darn phone.

Add this factoid to the many others concerning the poor state of customer service, right alongside the one about how we collectively lose $38 billion annually waiting around for the cable guy to show up. According to a new poll, most American consumers (53%) say that they spend 10 to 20 minutes on hold each and every week. That 15 minutes or so per week adds up to 780 minutes per year—or 13 hours annually—spent waiting for a company that swears via automated message “we care about your business” to answer the darn phone.