Business Update – January 18, 2024
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Fixed mortgage rates are on the decline. Is now the time to lock in?
Rates on some fixed mortgages have dropped by a full percentage point in the past few months, opening up an opportunity for Canadians eyeing the spring housing market or with a mortgage of their own up for renewal.
Canada could be ‘sideswiped’ by global trade disputes, says expert
Canada will be trading on rough seas this year as it is buffeted by conflicts around the world, says a trade expert.
Prospect of Bank of Canada rate cuts is boosting Canadians’ views on the economy
Canadians appear to be riding a wave of optimism about the national economy and their personal financial prospects, according to latest results of an ongoing survey tracking households’ views.
Economists expect December inflation ticked up, trend still points to slowdown
Economists are forecasting Canada’s inflation rate likely ticked up last month, but that isn’t expected to set off alarm bells as long as underlying price pressures ease.
Rate cuts and a return to growth: What Deloitte sees on the Canadian economic horizon
The Canadian economy will return to growth in the second half of 2024, with interest rate cuts as early as this spring, according to a new forecast by Deloitte Canada.
Canadian companies struggling to put ESG mandates into action as reporting pressures ramp up
Over 1000 Canadian companies are facing environmental, social and governance (ESG) reporting requirements under the new Corporate Sustainability Reporting Directive (CSRD), research published in the Wall Street Journal revealed. CSRD mandates companies both inside and outside the European Union (EU) to report on ESG. A new report that surveyed 332 senior Canadian decision makers in Medium to Enterprise businesses found that 74 per cent are still struggling to put ESG mandates into action.
Canada’s productivity has been declining. Why that’s a problem for the economy
Labour productivity — a broad measure of real gross domestic product by hours worked across the economy — has declined nationally in six consecutive quarters, Statistics Canada said last month. Economists say this metric is critical for improving Canadian quality of life, and recent declines will be particularly worrying to the Bank of Canada.
Rising costs top concern for Canadian SMBs: Report
The year 2023 is behind us, but the rise in inflation that came last year will still have an impact on small- and medium-size businesses (SMBs) in 2024. Canadian employers’ biggest concern this year is rising costs (82 per cent), according to a report.
CBAA study: Canadian business aviation generates $11.7B in direct economic output
As Canada’s business aviation community navigates the effect of a new luxury tax on aircraft and tries to ramp up sustainability efforts, the industry’s main advocacy group is highlighting the sector’s contributions to the national economy.
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