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Canadian economy has worst performance in 7 years in second quarter: StatsCan

OTTAWA — The Canadian economy shrivelled in the second quarter to its worst performance in seven years, Statistics Canada said Wednesday.

The federal agency said real gross domestic product fell at an annualized rate of 1.6 per cent in the three-month period, due in large part to the wildfires that destroyed parts of Fort McMurray, Alta. That’s the biggest quarterly decline since the second quarter of 2009 when Canada was in the midst of the global financial crisis.

To read full article please click on the link below:

http://www.cp24.com/news/canadian-economy-has-worst-performance-in-7-years-in-second-quarter-statscan-1.3052055

TSX, Wall St. rise as Yellen says case for rate hike stronger

The Toronto stock market and Wall Street were higher on Friday morning after Federal Reserve Chair Janet Yellen said the case for raising U.S. interest rates has strengthened in recent months.

To read full article please click on the link below:

http://www.theglobeandmail.com/globe-investor/inside-the-market/market-updates/tsx-wall-st-rises-as-yellen-says-case-for-rate-hike-stronger/article31571278/

Strong: U.S. economy adds 255,000 jobs in July

America’s job market remains one of the few bright spots in the economy.

The U.S. economy added 255,000 jobs in July and the unemployment rate remained at 4.9%. It far surpassed expectations of economists surveyed by CNNMoney, who had predicted a gain of 182,000 jobs.

To read full article please click on the link below:

http://money.cnn.com/2016/08/05/news/economy/us-economy-july-jobs-report/

Canada sheds 31,200 jobs in July, unemployment rate rises to 6.9%

The loonie tumbled Friday, losing more than eight-tenths of a cent against the U.S. dollar, in the wake of a weaker-than-expected Canadian employment report. The economy lost 31,200 jobs in July as the number of workers with full-time jobs fell dramatically and fewer younger people were employed, Statistics Canada reported today.

To read full article please click on the link below:

http://www.cbc.ca/news/business/jobs-canada-july-1.3708611

 

Canada trade deficit widens to record in June

Canada’s trade gap unexpectedly widened to a record deficit in June as imports of motor vehicles and parts jumped, while the increase in exports was lackluster, data from Statistics Canada showed on Friday.

To read full article please click on the link below:

http://www.bnn.ca/canada-trade-deficit-widens-to-record-in-june-1.538614


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