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Good news report from Canada, 15 February 2007
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17 February 2007
15 February was the 15th day of the eighth month of Canadian national consciousness rising to invincibility, as indicated by the following press reports:
15 February 2007
The Toronto Star - Home sales set new record (15 February 2007) Existing home sales across Canada set a new all time monthly record in January. Seasonally adjusted activity rose by 3.4 per cent from December, surpassing the previous monthly record of August 2005 by 3 per cent, according to the Canadian Real Estate Association.
Low mortgage interest rates, high employment, rising incomes, and upbeat consumer sentiment will keep the housing market on a strong footing for the foreseeable future,' said CREA Chief Economist Gregory Klump. The average price of a home in Canada is $299,318, up 11.2 per cent from January of 2006.
Bloomberg News - Canadian stocks rise to record on Bernanke (14 February 2007) Canadian stocks rose, lifting the TSX Composite Index to a record on 14 February, after US Federal Reserve Chairman Ben S. Bernanke said inflation may ease, allaying concern the US central bank may raise borrowing costs. The TSX rose to a record close of 13,288.16. It touched an intraday record of 13,258.70 earlier. The previous record close of 13,184.30 was on 8 Feb.
Reuters Canada - Strong Canada factory shipments bode well for GDP (15 February 2007) Canadian manufacturing shipments ended 2006 on a strong note. The rally drove new orders for manufactured goods up 2.1 per cent in December to their highest level since January 2006 while unfilled orders jumped by the same amount to their highest in four years. The transportation sector shipped C$10.2 billion worth of products in December, the highest monthly total in 2006.
'The details do suggest that there is reason for optimism heading into the new year, and at a minimum, should help boost GDP and provide a good handoff into 2007,' said Carolyn Kwan, senior economist at Scotia Capital in Toronto.
The Globe and Mail - Factory shipments pop (15 February 2007) Factory shipments rose for the second month in a row, more than double forecasts, further proof that Canada's economy finished last year with a bang.
'This is the third in a string of solid economic reports out of Canada,' noted Stewart Hall, market strategist at HSBC Securities (Canada), adding that January's shipments will likely also be strong. December's increase was widespread, with 13 sectors representing almost three quarters of total output improving. Durable goods jumped 3 per cent, the third straight gain.
The Canadian dollar has climbed more than a cent over the past week, following stronger-than-expected data on jobs and trade.
Bloomberg News - Canadian dollar climbs to six-week high as report shows manufacturing gain (15 February 2007) Canada's dollar rose to a six-week high following a report showing December factory shipments rose more than twice as much as forecast. The currency has gained more than 1 per cent this month as the economy showed strength and traders pared bets the Bank of Canada will cut borrowing costs this year.
Today's data (15 February), combined with a surge in employment since September and a trade surplus that expanded for two straight months, suggest the economy is gaining strength.
'People have neglected the currency for at least six months,' said Adam Myers, a currency strategist in London at UBS AG, the world's second-largest foreign exchange dealer. 'But it looks like investors are changing their tune, and seeing a greater spread in the Canadian dollar, which could be our top pick in the next six months.'
Globe and Mail - Higher exports throw economists for a loop (14 February 2007) A ballooning trade surplus has provoked more puzzlement about whether the Canadian economy is stronger than economists had thought.
The country's trade surplus unexpectedly hit a 10-month high of $5 billion in December and November's surplus was revised upward. 'There is some consternation in our industry about the estimates for fourth-quarter [gross domestic product],' said Peter Hall, deputy chief economist at Export Development Canada. He believes the trade picture points to growth that's more like a 2.6 per cent annual rate. 'There's a serious contribution from trade,' he said.
The trade numbers were the second piece of strong economic news, after a report Friday showed employers last month added the highest number of jobs since May. Yesterday's trade report showed exports surged 3.8 per cent in December, just shy of a record.
CBC News - Prince Edward Island predicts 2nd surplus (15 February 2007) Prince Edward Island should record a surplus of $1.3 million in the current fiscal year, which ends in March, Provincial Treasurer Mitch Murphy announced Wednesday. The announcement updates a deficit of $12.5 million predicted last spring.
'Recent economic data released for the month of January shows the economy continues to be strong,' said Murphy. 'We've surpassed a recent all-time record high of people in the workforce so we certainly expect that the revenues will be on target or even a little above target by the time of the end of the fiscal year.'
Reuters Canada - Ottawa mulls tax credits for hybrid cars (14 February 2007) Facing a groundswell of concern about the environment, the federal government on Wednesday unveiled $36 million in funding for new programmes to promote hybrid and other advanced-technology vehicles, while on 13 February it committed $10 million to help cities develop programs to encourage people to leave their cars at home. The federal government is also considering introducing a tax credit or tax rebate for the purchase of environmentally friendly hybrid vehicles, according to a government source.
'There's a strong political will to do it,' the source said, and it is being discussed by the cabinet. British Columbia announced on Tuesday it was extending a $2,000 tax exemption on new hybrid vehicles and unveiled $36 million in funding for new programs to promote hybrid and other advanced-technology vehicles. Ontario has a tax rebate of up to $2,000 for fuel-efficient vehicles and Quebec has a tax rebate of up to $1,000.
These are a few of the news reports reflecting Canada's rising invincibility from the growing Yogic Flying groups across Canada and the Invincible America Assembly at Maharishi University of Management and Maharishi Vedic City, USA.
For further information on creating invincibility for your nation, please visit: www.globalgoodnews.com/invincibility.html.
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