Canada may post a bigger budget surplus than forecast in the 2015-2016 fiscal year and its manufacturers will be aided by a currency that the central bank head says may weaken, Finance Minister Jim Flaherty said.
“Yes, we’ll balance and it won’t be close, we’re in good shape,” Flaherty said in an interview broadcast Sunday on CTV’s “Question Period.” “We could have a larger surplus than we anticipated but we will have a surplus,” he said. Flaherty didn’t elaborate on how large the surplus could be.
TORONTO — Scotiabank says Canada’s housing market is in the process of transitioning to slower growth and will remain on a “subdued trajectory” over the next several years, imposing a modest drag on output growth as the effects make their way through the broader economy.
In a new report, bank senior economist Adrienne Warren says residential investment began to stall last year as affordability constraints tempered home sales and builders scaled back the number of new developments.
MUMBAI: French carmaker Renault, which has entered the MPV market earlier this month with the Lodgy and will roll out its compact car in the sub-Rs 4-lakh segment next month, today said it hopes to double its market share and sales to about one lakh units this year. "We are sure of doubling our sales this calendar year. We sold about 49,000 units in 2014.
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.