Equifax Canada says delinquencies climbed higher in the fourth quarter

Equifax Canada says delinquencies climbed higher in the fourth quarter
TORONTO — Equifax Canada says consumer delinquencies climbed higher in the fourth quarter of 2018 and the credit monitoring company warns that rising delinquency rates are likely to become the norm this year. It says the 90-day mortgage delinquency rate rose by 1.5 per cent from the fourth quarter of 2017 to 0.18 per cent at the end of last year.... Read More

Auto sales fall 3.7 per cent in February as downward trend continues

Auto sales fall 3.7 per cent in February as downward trend continues
TORONTO — DesRosiers Automotive Consultants Inc. says light vehicle sales fell 3.7 per cent in February from a year earlier as a downward Canadian auto sales trend continued. The automotive consultant says light vehicle sales totalled 120,891 for the month, down from 125,530 last year, to make it the third-highest sales for the month on record. The dip in February marked the 12th month of... Read More

Economic growth slowed in the fourth quarter to cap off year of 1.8% growth

Economic growth slowed in the fourth quarter to cap off year of 1.8% growth
OTTAWA — The Canadian economy expanded at an annualized pace of 0.4 per cent over the final three months of 2018 as the country posted its weakest quarterly growth since the middle of 2016. Statistics Canada’s latest figures for real gross domestic product show that for all of last year the economy grew 1.8 per cent, which was slower than the three per cent expansion in 2017. The fourth-quarter reading... Read More

Lower gas prices help Canada’s inflation rate slow to 1.4% in January

Lower gas prices help Canada’s inflation rate slow to 1.4% in January
OTTAWA — The country’s annual inflation rate decelerated last month to 1.4 per cent in January in large part because of lower prices at the pump, Statistics Canada said Wednesday said in a new report. Year-over-year growth in consumer prices slowed following the two per cent reading for December, the agency said in its latest consumer price index report. Economists on average had expected an increase... Read More

Here’s a list January inflation rates for Canadian provinces, territories

Here’s a list January inflation rates for Canadian provinces, territories
OTTAWA — Canada’s national annual inflation rate was 1.4 per cent in January, Statistics Canada says. Here’s what happened in the provinces (previous month in brackets): — Newfoundland and Labrador: 0.1 per cent (0.5) — Prince Edward Island: 0.4 (1.3) — Nova Scotia: 1.1 (1.6) — New Brunswick: 1.1 (0.9) — Quebec: 1.0 (1.1) — Ontario: 1.5 (2.3) — Manitoba: 1.4 (2.1) — Saskatchewan: 0.7 (1.1) — Alberta: 1.2 (2.1) — British Columbia: 2.4 (3.0) The Canadian Press Read More

Interest rates low enough to stimulate economy, upward path ‘uncertain’: Poloz

Interest rates low enough to stimulate economy, upward path ‘uncertain’: Poloz
OTTAWA — The head of the Bank of Canada says his trend-setting interest rate is low enough, at its below-inflation level of 1.75 per cent, that it’s delivering stimulative effects to the economy. But even in the stronger economy, governor Stephen Poloz said Thursday that the benchmark rate’s upward journey to its likely destination range of between 2.5 and 3.5 per cent is “highly uncertain.” The... Read More

Trican Well Service cuts 160 jobs during sharp slowdown in Q4 oilpatch activity

Trican Well Service cuts 160 jobs during sharp slowdown in Q4 oilpatch activity
CALGARY — A 40 per cent decline in revenue in the fourth quarter due to a steep downturn in drilling activity in Western Canada resulted in 160 lost jobs at Calgary-based Trican Well Service Ltd. The well completion company posted $5.1 million in severance costs in its fourth-quarter results as its revenue dropped to just $168 million from $280 million in the... Read More

Well completion companies report sharp slowdown in fourth-quarter activity

Well completion companies report sharp slowdown in fourth-quarter activity
CALGARY — Companies whose services are needed for hydraulic fracturing or “fracking” of oil and gas wells are reporting tough times thanks to a slowdown in drilling in Western Canada in the fourth quarter. Shares in both Trican Well Service Ltd. and Source Energy Services Ltd. trended lower Thursday after the Calgary-based companies reported lower sales in the last three months of 2018.... Read More