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Canadian economy expands 1.3%

OTTAWA The Canadian economy expanded by 1.3 per cent in the third quarter, despite continuing declines in the export sector and rapidly fading personal spending by consumers. The expansion of the country's gross domestic product was fuelled mainly by a ...

From HEATHER SCOFFIELD, Globe and Mail,  1 Dec 2008

Jobs at standstill in September, new report says

OTTAWA A new Statistics Canada report indicates the labour market was at a standstill in September, in stark contrast to an earlier survey that showed more than 100,000 jobs were created. Statistics Canada said previously, in its widely watched Labour ...

From HEATHER SCOFFIELD, Globe and Mail,  28 Nov 2008

Current account surplus shrinks

Canada's current account surplus with the rest of the world shrank suddenly in the third quarter, Statistics Canada said. The surplus was $5.6-billion on a seasonally adjusted basis, down from $8.2-billion in the second quarter, mainly because of lower ...

From HEATHER SCOFFIELD, Globe and Mail,  28 Nov 2008

Flaherty's instinct to cut out of step with world

OTTAWA As the rapidly worsening global recession pushes governments around the world to step up spending, Ottawa's first official response is to cut back. The fiscal update presented yesterday by Finance Minister Jim Flaherty will suck $6-billion out ...

From HEATHER SCOFFIELD, Globe and Mail,  28 Nov 2008

Ottawa balances books barely

The federal government is showing the slimmest of surpluses for next year and the year after, and warns that any fiscal stimulus package would likely put it over the edge into deficit territory for the first time in 12 years. Ottawa is balancing the ...

From HEATHER SCOFFIELD, Globe and Mail,  27 Nov 2008

Tough times make right stimulus tougher to find

OTTAWA Shopping vouchers in Taiwan. Prepaid credit cards for the poor in Italy. Grants for first-time home buyers in Australia. Oil subsidies in Malaysia. The world is suddenly awash in government efforts to kick-start stagnant economies, with Canada ...

From HEATHER SCOFFIELD, Globe and Mail,  26 Nov 2008

Currency traders try to gauge BCE impact

OTTAWA Currency traders grappled Wednesday with news that the enormous deal to privatize BCE Inc. could be in jeopardy, trying to get a handle on the potential impact on the dollar. For the BCE deal to go through, a large amount of Canadian dollar ...

From HEATHER SCOFFIELD, Globe and Mail,  26 Nov 2008

OECD forecasts 0.5-per-cent Canadian contraction

Next year will be a harsh one for Canada's economy, the Organization for Economic Co-operation and Development says in its latest forecast. Canada's economy will contract by 0.5 per cent in 2009, the unemployment rate will rise, government deficits ...

From HEATHER SCOFFIELD, Globe and Mail,  25 Nov 2008

Harper urged to take quick, decisive measures

OTTAWA If Prime Minister Stephen Harper is serious about a stimulus package for Canada's economy, he'd best act quickly and decisively, with a generous plan that will bolster confidence and encourage spending on Canadian goods, economists say. “The ...

From HEATHER SCOFFIELD, Globe and Mail,  24 Nov 2008

A class built on plastic prosperity

SAO PAULO The first thing a salesperson does when a customer walks into a store is ask whether she'd like to pay in instalments. Anything at all can be financed in Brazil: shoes, purses, groceries, medicine, and especially larger items like electrical ...

From HEATHER SCOFFIELD, Globe and Mail,  24 Nov 2008

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