EnglishРусский


xhamster porno

I Would Like to be Contacted

First name:
Last name:
Phone:
Email:
Comments:

Validation code:
   * All fields are mandatory

Contact Information

2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
Toll Free: 1855-761-7001
Fax:          905-761-7005

Email: mortgageadvisor@rogers.com





27 December 2018

What to expect from Canada’s economy next year?

The national economy started a year with a surprisingly strong activity, and it’s expected to open 2019 with a healthy pace. However, there are certain signs of weakness, which led to the question, whether the good times will continue.

Over most of 2018, the jobless rate in Canada was near a 40-year low level. In addition to it, the job creation was also strong with the economy getting closer to its full capacity.

Canada showed a 3% growth during 2017, strongly supported by household spending. Of course, the final data on 2018 is yet to come, but experts predict a 2% economic growth.

Nevertheless, there are concerns over fading economic expansion.

In November, the federal government predicted 2% growth for 2018, but many specialists expect the number to be lower following an oil prices decline.

Moreover, there are other challenges to financial markets, forecasts of economic cooling in the U.S. (the main contributor to Canadian growth) and issues with the United Kingdom and the European Union.

Another dangerous threat is a growing trade war between Washington and Beijing.

In terms of trade, it was a difficult year for Canada with numerous uncertainties, e.g. hard negotiation over the North American Free Trade Agreement. And all of them will continue next year. The path to NAFTA 2.0's ratification may lead to more issues, concerning American steel and aluminum tariffs and the conflict between Canada's two largest trading partners.

The main potential risks for Canada are the following: high household debt, rising interest rates and slower wage growth, which was quite disappointing for almost half a year, said Matt Stewart from the Conference Board of Canada.

Growing rates, according to Stewart, have affected household spending negatively, and it was the main driver of Canada's good economic results.

"We haven’t had a recession for a long time already”, - he noted. “Now the situation is quite positive, but there are several risks”.

Craig Alexander, chief economist of Deloitte, expects the economy to show healthy growth next year, although with a moderation.

"It’s the late stage of a business cycle," - he said. "It doesn’t mean we’ll have a recession soon, but we have to admit that Canada’s economy has been recovering and expanding for 10 years. Business cycles tend to last for 8-10 years”.

In Alexander’s opinion, markets are overreacting to the possibility of another downturn. He says a slowing growth is more likely.

Bank of Montreal chief economist Doug Porter believes that Canada has already taken a small step back this year, and the growth will keep slowing down.

"There are many worries at the financial markets over a late stage of the economic cycle," - Porter said. "We don't expect recession at this point, but we do predict a cool down for the North American economy in 2019."

Now is a perfect time to revisit your budget and concentrate on high interest debt payout while mortgage rates are still historically low. We are helping hundreds of clients every year to lower their monthly payments by including  high interest payments into one affordable mortgage payment and releasing lots of cash every month to cover other needs and having more money for long overdue vacation and other fun family activities.

 

Add comment


Security code
Refresh

News

18 March 2019

It’s time to review mortgage stress test as home sales are dropping sharply Calls for a B-20 review are getting stronger every day. As you know, a we...Read more >>

15 March 2019

What can higher rental demand lead to? As cities become more and more expensive, young families start renting longer, and this may provide landlords ...Read more >>

14 March 2019

Household debts grow faster than income in Canada According to Statistics Canada, households’ debts outpaced income growth in the fourth quarter. Se...Read more >>
Licence# 10349


7676 Woobine Avenue Suite 300 Markham, ON L3R 2N2
2180 Steeles Avenue West, Suite 204, Concord Ontario L4K 2Z5
© 2010 Michael Tulchenetskiy & Denys Derzhavets Mortgage Brokers. All Rights Reserved