Canadian household net worth, debt on the rise, StatsCan says

Household debt service ratio rose from 14.82 per cent to 14.9 per cent – an all-time high, statistics from the federal agency indicate

Canadian household net worth, debt on the rise, StatsCan saysCanadian households have more net worth but also a troubling level of household debt, data from Statistics Canada indicates. Net worth rose by $101.4 billion to $11.5 trillion in the third quarter of this year, primarily as a result of a $138-billion hike in the value of total assets. But at the same time the…

Canada’s trade deficit narrows with rise in energy exports

Canada's trade deficit narrows with rise in energy exports

Canada’s trade deficit narrows with rise in energy exportsCanada’s merchandise trade deficit with the world narrowed slightly in from $1.2 billion in September to $1.1 billion in October, says Statistics Canada. The federal agency reported Thursday that exports rose 0.8 per cent in October while imports increased 0.5 per cent, mainly on higher imports of energy products. “Exports of energy products (+3.4 per…

Canadian economy grows at 1.3% annual rate in Q3

Third quarter growth was led by higher business investment and increased household spending, boosting final domestic demand

Canadian economy grows at 1.3% annual rate in Q3Real gross domestic product (GDP) in Canada grew 0.3 per cent in the third quarter of this year, following a 0.9 per cent increase in the second quarter, according to Statistics Canada.  The federal agency reported Friday that, expressed at an annualized rate, GDP advanced 1.3 per cent in Q3. GDP in the United States…

Digital shift not offsetting newspapers’ print decline

Digital advertising sales reached $295.6 million in 2018, a 20.8 per cent increase from 2016, yet print ad sales declined by a much larger amount

Digital shift not offsetting newspapers’ print declineGrowth in digital ads for newspapers has not been fast enough to offset the decline in print advertising, according to data released Friday by Statistics Canada. The federal agency reported that digital advertising sales reached $295.6 million in 2018, a 20.8 per cent increase from 2016. Print advertising sales totalled $1.2 billion, down from $1.6…

Social media emerging as top online shopping tool

Canadian social media users spend an average of $924 per year buying clothes, electronics and toys on social platforms

Social media emerging as top online shopping toolSocial media has become the new shopping mall in Canada as consumers turn to online shopping. Nearly half (47 per cent) of Canadian social media users are shopping on social, according to a report released Thursday by PayPal Canada. The Social Commerce Trend Study also found that almost 40 per cent plan to shop on…

Social media levels playing field for small business

Only half of small businesses in Canada survive their first five years. Digital tools are critical to their success

Social media levels playing field for small businessSocial media levels the playing field for Canadian small businesses and unlocks economic growth, says new research revealed Tuesday by Facebook Canada. The report, Empowered In The Digital Age: Leveling the Playing Field For Canadian Small Business, said only half of small businesses in Canada survive their first five years and accessible digital tools are…

More Canadians shopping online for holiday gifts

Time saving, better selection, and the ability to shop in peace without interaction with others were identified as the top three reasons

More Canadians shopping online for holiday giftsForty per cent of Canadians say they are more likely to shop online for holiday gifts this year compared to last year, according to a survey released Monday by FedEx Express Canada. The 2019 FedEx Holiday Shopping Survey found that time saving (62 per cent), better stock and selection (59 per cent), and the ability…

Two in five Canadians expect lifelong debt

'There is a financial wellness crisis, and it's affecting Canadians of all demographics' -- Manulife

Two in five Canadians expect lifelong debtHousehold debt is growing so large, it may be cracking Canada's financial foundation.  A Manulife Financial Corporation survey found that two-in-five Canadians do not expect to escape debt in their lifetime and the spending-to-income ratio is trending negatively in Canada. The Manulife Bank Debt Survey found: 94 per cent of Canadians say the average household…

Helping women to succeed in business

As National Lead, Women Entrepreneurs for BDC, Laura Didyk works with, and learns from, smart, successful women business owners

Helping women to succeed in businessLaura Didyk, is Vice President and National Lead, Women Entrepreneurs, Business Development Bank of Canada What is your role with the BDC and what do you do? Didyk: The BDC is only bank dedicated exclusively to entrepreneurs. After I worked there for 25 years, it created my dream job, working with women entrepreneurs. As National…

Women have yet to break through glass ceiling

62 per cent of working women identify gender discrimination as the leading cause for lack of female executives, which 41 per cent of men feel that way

Women have yet to break through glass ceilingThe glass ceiling is still keeping women out of the C-suites, in the view of working women. A survey done by job-search firm Randstad Canada has found that 62 per cent of working women identify gender discrimination as the leading cause for lack of female executives. Forty-one per cent of men feel that way. The…

Alberta most, Quebec least, open to interprovincial trade

Report says barriers cost between $3,500 and $9,200 per Canadian household every year

Alberta most, Quebec least, open to interprovincial tradeAlberta has the fewest obstacles to trade within Canadian borders, according to a report released on Thursday by the MEI (Montreal Economic Institute) and the Canadian Constitution Foundation. The Internal Trade Provincial Leadership Index developed by Mark Milke ranks the provinces and territories according to their number of barriers to trade, as measured by exceptions…

Small businesses vital to Canadian communities: poll

CFIB urges government to make policy changes that support entrepreneurs

Small businesses vital to Canadian communities: pollMore than nine in 10 Canadians say that small businesses are vital to their communities, according to a public opinion poll released on Wednesday by the Canadian Federation of Independent Business (CFIB).  “Canadians value entrepreneurs and the contributions they make to their communities. One in two are even considering starting a business one day,” said…

Cannabis use by Canadian seniors on the rise

About 578,000 Canadians reported trying cannabis for the first time in the past three months: StatsCan

Cannabis use by Canadian seniors on the riseBy Troy Media A report released on Wednesday by Statistics Canada says cannabis use is less common among seniors than it is in other age groups but consumption has been accelerating at a much faster pace than it has among other age groups. The report said seniors use is seven per cent compared with 10…

More Canadians use Internet, led by Alberta, B.C.

Nearly 84% of Internet users bought goods or services online in 2018, spending $57.4 billion, up from $18.9 billion in 2012: StatsCan

More Canadians use Internet, led by Alberta, B.C.By Troy Media More Canadians are using the Internet, with people in Alberta and British Columbia leading the way. A report released on Tuesday by Statistics Canada said the share of Canadians aged 15 and older who used the Internet was 91 per cent in 2018, with more seniors reporting Internet use (71 per cent).…

Four in 10 Canadians struggling financially: TD

When it comes to financial health, Quebec is the healthiest province and Alberta lags behind, said the report.

Four in 10 Canadians struggling financially: TDBy Troy Media The TD Financial Health Index finds that four in 10 Canadians are financially struggling, with Albertans lagging when it comes to financial health. The index by the TD Bank Group is a national benchmarking survey providing a portrait of Canadians’ financial well-being and how they’re managing their personal finances. The study, released…