Bank of Canada says weak housing could hit economy KINGSTON, Ontario (Reuters) - If the Canadian housing market were to weaken suddenly it could have a "sizable spillover" effect on other parts of the economy, a senior Bank of Canada official said on Monday. The comments by Deputy Governor Agathe Cote were the latest in a series of warnings by the central bank about the risks posed by high levels of household indebtedness.
The year has started off with a jolt, with some unexpected numbers coming in from Statistics Canada for November 2010 for building starts. Contrary to the gain of 1.5% that analysts predicted, Stats Can reports that building permits fell down 11.
2010 ended well in terms of residential sales in Montréal, according to new figures released from Greater Montréal Real Estate Board. In fact, 2010 was the second best year on record for sales.
Canadians More Optimistic About The Economy,The Canadian Consumer Confidence Index . It seems that Canadians, for the most part, are feeling much better about the economy these days.
It seems that fiscal restraint will be the order of the day for governments globally in 2011.
While Canadian consumers in Quebec and Ontario had differing views at the close of 2010, overall, consumer confidence held up through most of the year, according to a poll conducted by Harris/Decima on behalf of Investor’s Group.
