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http://www.newswire.ca/news-releases/healthy-economic-outlook-for-montreal-and-quebec-city-in-2016-570899271.html OTTAWA, March 3, 2016 /CNW/ - Quebec's two largest cities are forecast to enjoy healthy economic growth in 2016. Montréal and Québec City can expect growth of 2.3 per cent and 2 per cent, respectively, according to The Conference Board of Canada's Metropolitan Outlook: Winter 2016. "The depreciation of the Canadian dollar and a healthy U.S. economy is bringing good news to Québec City and Montréal and their export-oriented industries. Economic growth in both cities has been on the upswing. In fact, we expect real GDP growth in both Montréal and Québec City to outpace the national average for the second consecutive year in 2016, after trailing it for five straight years" said Alan Arcand, Associate Director, Centre for Municipal Studies, The Conference Board of Canada. Highlights Montréal is expected to see real GDP growth of 2.3 per cent in 2016, up from 1.7 per cent last year. Québec City's real GDP growth is expected to reach 2 per cent in 2016. Vancouver's real GDP is forecast to grow 3.3 per cent, making it the fastest growing economy among the 28 census metropolitan areas covered in this edition of the Metropolitan Outlook. Montréal Montréal's economic improvement will be driven by a strengthening manufacturing sector, a rebound in construction, and steady services sector gains. Manufacturing output is forecast to expand by 3 per cent in 2016, bolstered by the combination of a weaker Canadian dollar and healthy U.S. demand. Two massive infrastructure projects—the $4.2-billion Champlain Bridge and the $3.7-billion Turcot Interchange—will help the local construction industry shake off three straight years of declines. However, a decline in housing starts will limit overall construction output growth to 2 per cent in 2016. Growth among the services-producing industries is projected to be 2.2 per cent in 2016, the same rate as in 2015. All eight industry sectors will advance this year, with the biggest gains coming from the business services sector and the personal services sector. In all, Montréal is expected to post real GDP growth of 2.3 per cent this year, up from 1.7 per cent in 2015. About 26,000 jobs are expected to be created in 2016. A similar rise in the labour force will keep the unemployment rate at 8.2 per cent, well above the national average of 7 per cent.

By Cat DiStasio Snow sports are wildly popular around the globe -- even in regions with no winter to speak of. No matter, because architects and engineers have joined forces to create ski and snowboard slopes in some of the most unlikely places. Whether indoors or out, artificial snow or pure natural pow-pow, these buildings with built-in slopes will blow your snow-loving mind. From the longest indoor ski slope on the planet to an eco-friendly year-round snow sports resort, this roundup has something for everyone. If you can't hold your breath 'til the next bluebird day rolls around, opt for one of these spots where it's primo shredding season with no white-out in the forecast. Rest of the pics here: http://www.engadget.com/2016/01/21/6-buildings-that-you-can-sled-ski-and-snowboard-on/#gallery=358601&slide=3774117

http://www.bloomberg.com/visual-data/best-and-worst/most-crowded-in-2025-global-cities-1 Very interesting find. We are ranked higher than Toronto in this forecast.

(Courtesy of Canadian Business)

U.S. Economy: Retail Sales Drop in October by Most on Record By Shobhana Chandra and Bob Willis Nov. 14 (Bloomberg) -- Retail sales and prices of goods imported to the U.S. dropped by the most on record, signaling the economy may be in its worst slump in decades. Purchases fell 2.8 percent in October, the fourth straight decline, the Commerce Department said today in Washington. Labor Department figures showed import prices dropped 4.7 percent, pointing to a rising danger of deflation, and a private report said consumer confidence this month remained near the lowest level since 1980. ``The weakness in growth is intensifying and inflation pressures have evaporated,'' said James O'Sullivan, a senior economist at UBS Securities LLC in Stamford, Connecticut, who accurately projected the decline in sales. ``Deflation is a word that will be increasingly used over the coming months.'' Spending may continue to falter as mounting job losses, plunging stocks and falling home values leave household finances in tatters. Retailers from Best Buy Co. to J.C. Penney Co. are cutting profit forecasts ahead of the year-end holiday shopping season, when many stores do most of their business. Federal Reserve Chairman Ben S. Bernanke said at a conference today in Frankfurt that continuing strains in financial markets and recent economic data ``confirm that challenges remain.'' The Fed chief said central bankers worldwide ``stand ready to take additional steps'' as warranted. Economists surveyed by Bloomberg News predict the Fed will lower its benchmark interest rate to a record 0.5 percent by March from the current 1 percent. Policy makers next gather in Washington Dec. 16. Stocks, Treasuries Stocks fell and Treasuries rose. The Standard & Poor's 500 Stock Index dropped 1.8 percent to 894.09 at 10:11 a.m. in New York. Yields on benchmark 10-year notes fell to 3.75 percent from 3.85 percent late yesterday. The Reuters/University of Michigan preliminary index of consumer sentiment was 57.9 in November compared with 57.6 last month. The measure averaged 85.6 in 2007. Retail sales were expected to fall 2.1 percent, according to the median forecast of 73 economists in a Bloomberg News survey. Purchases in September were revised down to show a 1.3 percent decrease compared with an originally reported 1.2 percent drop. ``The September-October credit jolt to the economy is showing up in all of the numbers now,'' Ellen Zentner, a senior U.S. macroeconomist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, said in a Bloomberg Television interview. ``We're expecting the worst recession, possibly, post-World War II.'' Worse Than Estimates Retailers have now logged the longest string of monthly declines since the Commerce Department's comparable data series began in 1992. Excluding automobiles, purchases decreased 2.2 percent, almost twice as much as the 1.2 percent decline anticipated and also the worst performance on record. Declines were broad based as furniture, electronics, clothing and department stores all showed loses. Demand at automobile dealerships and parts stores plunged 5.5 percent after falling 4.8 percent in September. Car sales are among the most affected as banks make it harder to borrow. Treasury Secretary Henry Paulson this week said the government will shift the focus of the second half of the $700 billion rescue plan from buying mortgage assets to unclogging consumer credit. President-elect Barack Obama and Democrats in Congress are under pressure to push through another stimulus plan even before the new administration takes over. Filling-station sales decreased 13 percent, also the most ever, in part reflecting a $1-per-gallon drop in the average cost of gasoline. Excluding gas, retail sales fell 1.5 percent. Gain at Restaurants Sales at furniture, electronics, clothing, sporting goods and department stores were also among the losers. Restaurants, grocery stores and a miscellaneous category were the only areas that showed a gain. ``Since mid-September, rapid, seismic changes in consumer behavior have created the most difficult climate we've ever seen,'' Brad Anderson, chief executive officer of Best Buy, said in a Nov. 12 statement. The Richfield, Minnesota-based electronics chain said sales in the four months through February 2009 will decline more than it previously estimated. Rival Circuit City Stores Inc. filed for bankruptcy protection this week. Macy's Inc., Target Corp. and Gap Inc. were among the chains that reported same-store sales dropped in October, while shoppers searching for discounts on groceries gave sales a lift at Wal- Mart Stores Inc., the world's largest retailer. Nordstrom yesterday cut its profit forecast for the third time this year. Worst Season J.C. Penney, the third-largest U.S. department-store company, today forecast earnings that trailed analysts' estimates and posted its fifth straight quarterly profit decline as shoppers cut spending on home goods and jewelry. Shoppers are pulling back as the labor market slumps. The unemployment rate jumped to 6.5 percent in October, the highest level since 1994. Employers cut more than a half million workers from payrolls in the past two months. The longest expansion in consumer spending on record ended last quarter, causing the economy to shrink at a 0.3 percent annual pace. The economic slump will intensify this quarter and persist into the first three months of 2009, making it the longest downturn since 1974-75, economists forecast in a Bloomberg survey conducted from Nov. 3 to Nov. 11. Excluding autos, gasoline and building materials, the retail group the government uses to calculate gross domestic product figures for consumer spending, sales decreased 0.5. The government uses data from other sources to calculate the contribution from the three categories excluded. To contact the reporter on this story: Shobhana Chandra in Washington schandra1@bloomberg.net

Investing in Montreal Halifax developer Homburg building properties, portfolio in city By BILL POWER Staff Reporter Mon. Apr 7 - 5:47 AM Richard Homburg, president of Homburg Invest. Inc, has just launched the $35-million Phase II of the 333 Sherbrooke St. E. luxury condominium project in Montreal. He also has an ambitious plan for the CN Central Station in the city, a project that will bring Homburg Invest Inc.’s portfolio in Montreal up to the $1-billion mark. (CNW) A HALIFAX property developer is helping reshape the Montreal skyline and attributes increasing investor interest in the city to its annual Grand Prix and acclaimed jazz and comedy festivals. Richard Homburg just launched the $35-million Phase II of the 333 Sherbrooke St. E. luxury condominium project and at the same time unveiled an ambitious plan for the CN Central Station in the heart of the city that he scooped up last year for $355 million. The completed project will bring the Homburg Invest Inc. portfolio in Montreal up to the $1-billion mark. Mr. Homburg said in Montreal he will build two $150-million 24-storey office towers at the CN Central Station site to take advantage of a proposed new link between the downtown location and Pierre Elliott Trudeau International Airport at Dorval. "The best is yet to come for property investment in the Montreal region," the Halifax-based developer said in a release. "The Montreal office market is on fire, and downtown core vacancy rates have fallen sharply with little new space on the horizon. . . . The condo market will continue to flourish for several more years." Mr. Homburg told the Montreal Real Estate Forum he believes Montreal real estate is undervalued compared to that of other cities in Canada and around the world. "Montreal is ideally situated at a major crossroads for European and North American trade and business," he said. The Sherbrooke Street project is in the heart of Montreal’s Plateau neighbourhood and consists of 83 condominium units in the first phase and another 67 in the second phase, and 30 townhouses connecting to the property. Initial occupancy is set for fall 2008 and the first phase is sold out. Units cost $350,000 to $2 million. Mr. Homburg said the real estate market in Montreal is supported by rising investment in both public and private projects. "Major tourist events like the Grand Prix, the jazz festival and the comedy festival attract people from all over the world who also come here to shop in the city’s highly developed shopping districts and eat in the city’s renowned restaurants," he said. Homburg Invest has been very busy in Montreal for the past three years. Major acquisitions include Place Alexis Nihon, as part of the $485 million Alexis Nihon REIT purchase; the CN Central Station for $355 million and a partnership interest in the $400-million redevelopment of the historic Chateau Viger site. Through these and other properties the company says it owns more than 1.5 million square feet of prime retail space in Montreal. Beacon Securities Ltd. in Halifax said it was initiating coverage of Homburg Invest with a buy rating and a 12-month price target of $4.75. It noted Homburg shares were recently trading at about $3.60 on the TSX. "Homburg’s $3-billion development pipeline has a total of 15 projects, with completion dates ranging over the next decade," analyst Michael Mills said in his outlook and financial forecast, distributed Friday. "However, many of the projects are condo resales and the commercial projects in the pipeline will not add to leasable square footage during our two-year forecast period," the forecast said. ( bpower@herald.ca) ‘The best is yet to come for property investment in the Montreal region.’ RICHARD HOMBURGProperty developer http://thechronicleherald.ca/Business/1048082.html