2 November 2012

“The news of the day is the U.S. job numbers, which turned out to be even better than expected,” – said Doug Porter, deputy chief economist at BMO Capital Markets.“Weare not overexcited on this report alone, but believe that such great results together with the upturn in the U.S. real estate market will positively affect Canada as well”.
Last two employment reports from U.S. raised a lot of questions because they were released right before Presidential election and showed unexpectedly good numbers. We will watch closely the development of that story as well as Canadian job market since good employment numbers are solid foundation for a housing market.