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3 August 2008
16 July 2008 was the 16th day of the first month of the 3rd year of Canadian national consciousness rising to invincibility, as indicated by the following press reports:
16 July 2008
The Globe and Mail - Manufacturing sales soar in May (16 July 2008) Manufacturing sales soared 2.7 per cent in May from a month earlier, the fourth increase in five months, following a robust 2.0 per cent jump in April. Nine provinces saw healthy gains in sales, and only one recorded a decrease. Sales advances were largest in the Prairie provinces. Ontario, considered the manufacturing heartland of Canada, recorded a 2.1 per cent rise in shipments from April's levels.
From a Bloomberg News report on this: Canadian factory shipments in May had their biggest one-month gain since March 2007 and more than five times as much as anticipated. Energy sales surged 9.2 per cent.
From a Canadian Press report on this: Primary metal manufacturers posted a 3.1 per cent sales increase, continuing a trend that has seen gains for seven consecutive months and a 13.3 per cent rise since last October.
From a Canadian Economic Press report on this: Sales gains were widespread, with 16 of 21 industry groups reporting increases over the previous month, accounting for 94 per cent of total manufacturing sales.
From a Canwest News Service report on this: Charmaine Buskas, senior economics strategist at TD Securities, said 'on a three-month annualized basis, shipments are up a whopping 8.7 per cent, and new orders are up 10.1 per cent. Both of these metrics suggest that the growth momentum in the second quarter remains robust.' She also said, 'The new orders component of the report also indicated some solid pipeline demand, as new orders were up 2.7 per cen month-on-month in May and is also posting sizable gains on a three-month annualized basis.' Unfilled orders were up 0.8 per cent to C$62.6 billion—almost C$10 billion higher than one year ago.
Reuters Canada - Economy to grow in 2008, 2009: Flaherty (16 July 2008) Canada's economy remains robust, Finance Minister Jim Flaherty said in a speech Wednesday to a Calgary business audience. 'Canada's economic future is bright and I say that based on the economic fundamentals of this country, which are solid,' Flaherty said. He remains optimistic, predicting budgetary surpluses and more growth. The minister also repeated promises to continue cutting taxes while reducing the government's debt.
From a Globe and Mail report on this: Mr Flaherty said Canada's job market remains strong, with only minor losses reported in June, and auto sales are good.
From a Bloomberg News report on this: Mr Flaherty noted that the country's housing market and banks are 'strong'.
The Canadian Economic Press - BMO's Cooper tells analysts recession will not hit Canada (16 July 2008) Canada will avoid falling into a recession, Sherry Cooper, chief economist at BMO Capital Markets and BMO Nesbitt Burns, told a Toronto business audience Wednesday. Cooper said Canada's economy will keep benefiting from strong fundamentals like a budget surplus, low interest rates, employment growth, and the shelter of high commodity prices. All of those factors should see Canada's economy best the rest of the G7 nations over the next year, she predicted.
Bloomberg News - Canadian stocks rise, led by financials (16 July 2008) Canadian stocks rose Wednesday, as Toronto-Dominion Bank led a group of financial stocks to its biggest gain in almost 10 years. The TSX Composite Index rose 146.24 points or 1.1 per cent to 13,503.80. A gauge of financial stocks advanced 5.5 per cent, the biggest gain since November 1998. Toronto-Dominion leapt 7.6 per cent. National Bank of Canada, the country's sixth-largest lender, jumped 8.5 per cent, its biggest gain since November 2007.
Canwest News Service - Job market is better than it looks, CIBC says (16 July 2008) The Canadian labour market is doing much better than the gloomy headlines suggest, says a report by CIBC World Markets. Employment quality is in fact on the rise across Canada, with the number of full-time employees in high-paying sectors growing steadily despite a weakening labour market, says CIBC economist Benjamin Tal. 'We are losing jobs in the manufacturing sector but the distribution of jobs in the existing pools of employment is actually better because more people can find jobs that are in high-paying positions,' Tal said. Despite unemployment in Canada resting at a 30-year low of 6.2%, in the past three months the economy has been generating just 7,500 new jobs a month. Nevertheless, Tal said 'the average weekly wage is still rising by a dazzling 4.3% on a year-over-year basis.' Tal said such gains are explained by the shift to higher-skilled employment and the bargaining power these in-demand workers bring to the table. CIBC's employment quality index, based on factors such as the number of part-time and full-time jobs, as well as compensation across 100 industry groups, finished June at an 18-month high.
From a Canadian Economic Press report on this: Tal says the number of full-time paid employees in high-paying sectors rose 'by a strong 6% in the past year' and by 3.5% during the last six months.
The Financial Post - Conference Board bullish on Canadian economy (16 July 2008) The manufacturing sector will find some relief in the coming months as the Canadian dollar is expected to remain stable, the Conference Board of Canada said in its summer economic outlook. It projects Canada's economy to grow 1.7% this year. Modest US growth, coupled with a stable Canadian currency, is set to provide relief for the Canadian export sector, the outlook said, and help boost Canada's economic growth in 2009 to 2.7%.
From a Canadian Economic Press report on this: 'Real consumer spending will still post healthy gains in 2008 (up 4.2%) thanks to the very strong start to the year. Real personal disposable income is forecast to grow by 3% in 2008.
The Canadian Press - Canadian premiers call on Harper to build on residential school apology (16 July 2008) Canada's provincial and territorial leaders are calling for a meeting with Prime Minister Harper to deal with native issues. Quebec Premier Jean Charest, host of the three-day premiers summit in Quebec City, said he and his counterparts hope to build on the momentum from Ottawa's residential school apology and address concerns over the future of Aboriginal children. 'The apology presented by the prime minister of Canada is extremely powerful,' Charest said. 'I think a very important number of Canadians have stood up and taken notice. All of a sudden we're conscious that the relationship we have with our native people, with the Inuit and Metis is important, and it needs to be addressed.' Charest said the 13 provincial and territorial leaders want the meeting with the prime minister to focus on youth issues, such as education. But he pointed out that everything would be on the table. 'We're not setting down any ultimatum, we're saying let's sit down and figure out the way forward together,' said the Quebec premier, who was flanked by Aboriginal leaders for the announcement.
From Globe and Mail reports on this: Inuit leader Mary Simon said the time has come to address education as a key priority to preserve and enhance their languages and cultures. 'We are calling on the prime minister of Canada and the federal government to be our partners in building this new relationship on an urgent basis. . . . Let's leave a legacy for our country,' Ms Simon said. Mr. Charest said their invitation to Mr Harper was not about confronting or embarrassing him. He and British Columbia Premier Gordon Campbell went out of their way to praise the federal government for embarking on a new era in its relations with Canada's aboriginal communities.
The Canadian Press - Aboriginal leader calls for reconciliation talks (16 July 2008) The time has come to engage in a national discussion aimed at reconciling Canada's aboriginal people with the rest of the country, Assembly of First Nations national chief Phil Fontaine told the assembly's annual meeting Tuesday.
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.
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