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Canadian Economic Growth Slows to Crawl

The growth rate of the Canadian economy slowed to a crawl in the fourth quarter of 2011, Statistics Canada reported Friday. At an annual rate, real gross domestic product (GDP) grew 1.8 per cent in the fourth quarter, after a 4.2 per cent increase in the third quarter. The actual growth in the quarter was […]

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Plunging Gas Prices Lower Inflation

A combination of Christmas sales and falling gasoline and food prices contributed to one of the biggest one-month drop in consumer prices in years in December, Statistics Canada said Friday. The 0.6 per cent overall decline in prices from November slashed the annual inflation rate by a similar amount to 2.3 per cent. The one-month […]

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Canada Loses Jobs in November

Canada shed another 19,000 jobs in November on the heels of a steep drop in October, edging the national unemployment rate to 7.4%. The economy lost 53,000 part-time jobs, offset by a gain of 35,000 full-time jobs, according to labour force numbers released by Statistics Canada on Friday. Finn Poschmann, vice-president of research at economic […]

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Debt Worries May Put Damper on Holiday Buying

Feelings of financial insecurity could overwhelm the Christmas giving spirit, making Canadians less likely to splurge on holiday shopping this season, according to a survey released Tuesday by Deloitte Canada. With a growing number of respondents pessimistic about the economy and more people choosing to pay down their debts, holiday budgets could be squeezed. Only […]

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Fed-up Clients Ditch Banks for ‘Transfer Day’

The social media-organized protest against big banks crescendoed Saturday, with hundreds of thousands of fed-up customers yanking their money from large corporate institutions to dump it into credit unions. Smaller community banks across the United States were recording an uptick in business as a result of the anti-corporate sentiment, which came to a head on […]

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Job Prospects Poor, Study Predicts

A new report from The Conference Board of Canada suggests job seekers may be in for a tough time in the next few months. The Ottawa-based economic research group said Friday its monthly help-wanted index survey suggests hiring prospects will be poor, falling in 17 of 26 metropolitan areas it surveys, including nine out of […]

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Inflation Inches Higher

Canada’s inflation rate rose to 3.2 per cent in the 12 months ended in September, pushed higher by price hikes for gasoline and food. Statistics Canada reported Friday that prices for food rose 4.3 per cent in the past year, while energy prices advanced 12.5 per cent. Those factors were the major contributors to the […]