WASHINGTON — The U.S. economy grew at a 3.6% annual rate from July through September, the fastest since early 2012. But nearly half the growth came from a buildup in business stockpiles, a trend that could reverse in the current quarter and hold back growth.
The Commerce Department’s second estimate of third-quarter growth released Thursday was sharply higher than the initial 2.8% rate reported last month. And it was well above the 2.5% growth rate for the April-June quarter.
OTTAWA — After what’s been called an “atrocious” start to the year, Canada’s economy is expected to climb back into positive territory through the rest of 2015 — and keep on growing next year.
To do that, consumer spending will need to continue providing a solid base for expansion — through strong demand for housing and other purchases — along with the anticipated resurgence in the U.S. economy, which should help lift exports that are also benefitting from a low Canadian dollar.
Beijing (AFP) - Growth in Chinese manufacturing activity slowed in August, two closely watched surveys showed Monday, losing momentum as a declining property sector and waning stimulus effects weigh on the world's second-largest economy.
OTTAWA — It may not be smooth sailing after all for the Canadian economy.
Many positive outlooks for growth in 2014 have been buoyed by a stronger-than-expected performance in the third-quarter of last year — along with a pickup in the global economy overall — but some analysts are sounding a more pessimistic tone.
“The consensus view that economic growth will accelerate this year is misplaced,” say economists at Capital Economics.
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.
BEIJING: China's ailing economy showed few signs of improvement in May, with factory output steadying but investment growing at its slowest rate in nearly 15 years, pointing to further weakness unless Beijing ramps up its stimulus efforts. A flurry of data from power output to retail sales released on Thursday showed no convincing pick-up in the world's second-largest economy despite three interest rate cuts since November.
WASHINGTON — U.S. employers hired more workers than expected in November and the jobless rate fell to a five-year low of 7.0%, which could fan speculation the Federal Reserve could start reducing its bond purchases this month.
Nonfarm payrolls increased by 203,000 new jobs last month, the Labor Department said on Friday. The unemployment rate dropped three tenths of a percentage point to its lowest level since November 2008 as some federal workers who were counted as jobless in October returned to work after a 16-day partial shutdown of the government.