Manufacturing surge pushes industrial production up 0.3 pct

Manufacturing surge pushes industrial production up 0.3 pct
WASHINGTON — U.S. industrial production increased 0.3 per cent in December, led by the biggest surge in manufacturing in ten months. The Federal Reserve said Friday that that manufacturing output jumped 1.1 per cent last month, the largest gain since February 2018. Automakers drove much of the growth with a 4.7 per cent jump in production. Utility output slumped 6.3... Read More

Statistics Canada says release of trade data delayed due to U.S. shutdown

Statistics Canada says release of trade data delayed due to U.S. shutdown
OTTAWA — Statistics Canada says it will not publish international merchandise trade statistics for December as scheduled on Feb. 5 due to the U.S. government shutdown. The agency says it uses U.S. import data to measure Canadian exports to the United States. However, the partial U.S. government shutdown that began Dec. 22 has meant that Statistics Canada will not receive that... Read More

Alberta crude oil curtailments remain unchanged despite price recovery

Alberta crude oil curtailments remain unchanged despite price recovery
CALGARY — Alberta Energy Minister Marg McCuaig-Boyd says the province is leaving its oil curtailment levels at 325,000 barrels per day for now despite discounts for western Canadian crude that have narrowed to three-and-a-half-year lows. According to Net Energy Exchange, the difference between bitumen-blend Western Canadian Select and New York-traded West Texas Intermediate was about US$8.25 per barrel on Wednesday,... Read More

Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week
TORONTO — Five things to watch for in the Canadian business world in the coming week: Cabinet shuffle Prime Minister Justin Trudeau will shuffle his cabinet Monday to deal with the resignation of Treasury Board President Scott Brison who has said he won’t seek re-election this fall. Observers will be watching to see if Trudeau simply replaces Brison or uses... Read More

Here’s a quick glance at unemployment rates for December, by province

Here’s a quick glance at unemployment rates for December, by province
OTTAWA — Canada’s national unemployment rate was 5.6 per cent in December. Here are the jobless rates last month by province (numbers from the previous month in brackets): — Newfoundland and Labrador 11.7 per cent (12.2) — Prince Edward Island 9.6 (8.5) — Nova Scotia 7.1 (7.0) — New Brunswick 8.4 (7.9) — Quebec 5.5 (5.4) — Ontario 5.4 (5.6) — Manitoba 6.0 (5.7) — Saskatchewan 5.6 (5.5) — Alberta 6.4 (6.3) — British Columbia 4.4 (4.4) The Canadian... Read More

Canada’s two major railways well-poised for trade headwinds in 2019: analysts

Canada’s two major railways well-poised for trade headwinds in 2019: analysts
MONTREAL — Canada’s two major railways are well-positioned to weather potential economic headwinds and the U.S.-China trade war, analysts say, as ongoing investments in new cars and track bolster crude-by-rail and commodities shipments. Canadian National Railway Co. and Canadian Pacific Railway Ltd. shipped 23 per cent more oil and petroleum in 2018 to drive a four per cent increase in... Read More

Stock markets surge higher following news of U.S.-China trade talks

Stock markets surge higher following news of U.S.-China trade talks
TORONTO — North American stock markets surged higher in late-morning trading following news of trade talks between the U.S. and China set for next week. The S&P/TSX composite index was up 190.79 points at 14,403.54. In New York, the Dow Jones industrial average was up 680.15 points at 23,366.37. The S&P 500 index was up 76.76 points at 2,524.65, while the Nasdaq... Read More

Vancouver home sales fall to lowest total since 2000, detached home prices down

Vancouver home sales fall to lowest total since 2000, detached home prices down
VANCOUVER — Home sales in Metro Vancouver plummeted to their lowest level in nearly two decades last year and the average home price moved lower in the once red-hot real estate market. The total number of homes sold in Metro Vancouver last year fell to 24,619, marking the lowest total since 2000, according to data from the Real Estate Board of... Read More

StatCan warns of impact on release of trade data from U.S. government shutdown

StatCan warns of impact on release of trade data from U.S. government shutdown
OTTAWA — Statistics Canada is warning the partial shutdown of the U.S. government could have an impact on the agency’s ability to release a complete picture of trade between North America’s largest trading partners. Each country has been using the other’s import data to produce its export statistics since 1990. U.S. imports from Canada reported to U.S. Customs and Border Protection... Read More