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Found 14 results

  1. 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.
  2. For a while now I have been thinking about how Canada would be like, if we actually had a decent size population. I found an article from the Globe and Mail from a few years ago, saying we should really consider increasing the number of immigrants coming to this country. How do we get 1.9 million new people to move to Canada and live here, each and every year? Yes, the current major cities like Toronto and Montreal will continue to grow, but we should find ways to get other cities to grow also. If we did manage to get to 100,000,000 people living in Canada by 2050, we would have a density of 10 people per sq.km. That would be almost similar to present day Russia (excl. the annexation of Crimea). The US has 35 people per sq.km. With that we would see Canada explode to well over 300 million people. Yes it would be a lot of more mouths to feed. Plus we would need a rapid expansion in new urban centers across the provinces and especially the territories. We would also need to develop/revitalize current industries and create new industries. I know the energy (petrol) and mining sectors are in the toilet, but if we managed to increase the population, we would probably bring those industries back to life. We may be able to finally fly Montreal to Vancouver or within this country for cheaper or drive through the Prairies and be bored out of our minds or even driving all the way to Iqaluit and not worry about the gas tank, seeing there may be a station close by and not 1000's of km away. Also we can finally see many of the national parks and provincial/territorial parks, that are inaccessible and costs 10s of thousands of to visit. The reason I bring up the territories, they are grossly under populated. If there are more people there and more towns/cities connecting them to the south, the cost of living there will decrease. Plus by 2050-2100, more people will be moving north because of climate change. I found one agency formulate by 2050, we would see Canada's population grow to well under 50 million, we would be one of the wealthiest per capita, but our GDP would be lower. If we could increase the population to 100 million and also find a way to still have a similar GDP per capita as the one forecast for 2050 with 50 million, we would be the 4th wealthiest instead of the 17th. It is a long shot and I know Canada has a lot to do before that time, but we should really think about the future of this country.
  3. Canada's GDP equals to Texas's GDP
  4. http://www.montrealgazette.com/business/independent+Quebec+might+benefit+from+currency+report/9637904/story.html An independent Quebec might benefit from its own currency: report Parti Québécois leader Pauline Marois said an independent Quebec would accept the loonie, along with Canadian monetary policy, and consider asking for a seat at the Bank of Canada. Photograph by: Jonathan Hayward , THE CANADIAN PRESS An independent Quebec might be better off with its own currency rather than following Parti Québécois leader Pauline Marois’s suggestion that it keep the Canadian dollar, a report says. A Quebec currency and separate monetary policy could bring “potential benefits” in the long term to Quebec, Paul Ashworth and David Madani of Capital Economics said in a research report. “The basic problem Quebec faces is that it is a manufacturing-orientated province tied to the resource-rich provinces in the west. The energy boom has boosted the economic performance of those western provinces, saddling Quebec’s manufacturers with a high exchange rate and higher than needed interest rates.” A Quebec currency would presumably depreciate against the Canadian and U.S. dollars, particularly if interest rates were lower than the rest of Canada. The resulting boost to Quebec competitiveness should trigger a rise in exports and a reduction in imports, the report said. But a referendum on separation would have negative consequences — including on investments in Quebec and higher yields on Quebec provincial debt — while a new Quebec currency would bring additional challenges, the economists noted. “If the Quebec currency depreciated in value against the Canadian dollar, then it would make it harder for the new government to repay any debt still denominated in Canadian dollars. The same goes for Quebec households and businesses that had borrowed Canadian dollars.” Separation would bring the loss of equalization payments — $9.3 billion this year, equivalent to about 2.5 per cent of Quebec GDP — while contending with higher debt servicing costs. “The bigger problem is the legacy of provincial debt, equivalent to 49 per cent of Quebec GDP. Assuming that an independent Quebec assumed responsibility for a per capita share of federal debt, too, we estimate that its overall debt burden would rise to 89 per cent of GDP. Under those circumstances, Quebec might find its borrowing costs rising, which would only add to the budget deficit and, in conjunction with the loss of equalization payments, force the new government into a sizable fiscal consolidation. “The risk of default would also be greater if an independent Quebec allowed the Bank of Canada to control monetary policy, since it couldn’t resort to printing more currency.” On the campaign trail last week, Marois said an independent Quebec would accept the loonie, along with Canadian monetary policy, and consider asking for a seat at the Bank of Canada. Her comments sparked discussion over the economic costs of sovereignty even though polls show support for independence running well below 50 per cent. Capital Economics, known for its bearish views of the Canadian housing market, weighed in on Wednesday. “Politicians who are striving for independence, whether it is in Scotland or Quebec, know that talk of adopting a new currency makes the electorate very nervous, so they have a tendency to argue that the new sovereign state would be able to keep its existing monetary arrangements,” the economists wrote. In any event, Quebec should be looking to adopt a looser monetary policy than the rest of Canada, the report’s authors said. “The evidence is overwhelming that interest rates should be set lower in Quebec, to provide more support to the depressed economy.”
  5. Ontario - Switzerland - Pennsylvania Quebec - Denmark - Washington Alberta - Venezuela - Maryland --- B.C - Czech Republic - Connecticut Saskatchewan - Ecuador - Delaware Manitoba - Dominican Republic - Maine Nova Scotia - Costa Rica - Montana Newfoundland / Labrador - Kenya - North Dakota New Brunswick - Panama - Vermont --- Northwest Territories - Malawi P.E.I - Kyrgyzstan Yukon - Sierra Leone Nunavut - Cape Verde What else is interesting, is that Ontario's GDP 36.7% of the total (Canada). Toronto GDP accounts for almost of half of Ontario GDP. Ontario GDP = Chicago GDP Ontario: 13,210,667 -- 917,741 sq.km Chicago: 2,853,114 (city) -- 606.1 sq.km Quebec GDP = Detroit GDP Quebec: 7,886,108 -- 1,365,128 sq.km Detroit: 910,920 (city) -- 370.4 sq.km Toronto GDP = Detroit GDP = U.A.E GDP (approx.) Montreal GDP = Cairo GDP = Peru GDP (approx.) Yet you have cities like Tokyo and New York that have GDP larger than Canada's GDP and other nations. Tokyo / New York = India's GDP.
  6. This map roughly shows each of the states in the US and the country to which they have a similar GDP.
  7. Montreal is 39th (GDP: USD$120B GDP). Expected to be 47th in 2050 (GDP: USD$180B) 2005: http://www.citymayors.com/statistics/richest-cities-2005.html 2020: http://www.citymayors.com/statistics/richest-cities-2020.html The world's richest cities by personal net earnings in 2008 (per capita) This survey performed by UBS puts New York at "100 level" and compares cities as having net earnings as how much higher or how much lower. Montreal fared reasonably well in the world at 21st position (Toronto 19th). http://www.citymayors.com/economics/richest_cities.html The world's richest cities by purchasing power in 2008 (per capita) This survey performed by UBS puts New York at "100 level" and compares cities as having purchasing power as how much higher or how much lower. Montreal fared really, and ranked 18th position in the world (Toronto 15th). http://www.citymayors.com/economics/usb-purchasing-power.html
  8. http://www.conferenceboard.ca/Libraries/PUBLIC_PDFS/7517_MontrealScorecard_IdQ_RPT-FR.sflb Our productivity, GDP per capita and education levels are quite bad compared to other cities comparable in size.
  9. not good gents.. Fitch Affirms Province of Quebec at 'AA-'; Outlook Revised to Negative Thu Dec 12, 2013 5:36pm EST * Reuters is not responsible for the content in this press release. 0 COMMENTS Fitch Affirms Province of Quebec at 'AA-'; Outlook Revised to Negative Fitch Ratings affirms the 'AA-' long-term ratings on senior unsecured obligations of the Province of Quebec, Canada, as detailed at the end of this release. In addition, Fitch affirms the outstanding 'F1+' short-term ratings on the Province of Quebec. The Rating Outlook is revised to Negative from Stable. SECURITY Senior unsecured obligations are direct and unconditional obligations of the Province to which the Province's full faith and credit is pledged. Commercial paper notes are promissory notes ranking equally with Quebec's other unsubordinated and unsecured indebtedness. For Financement-Quebec, payment of debt service is unconditionally guaranteed by the Province from the consolidated revenue fund. KEY RATING DRIVERS NEGATIVE OUTLOOK BASED ON DELAYED FISCAL BALANCE: The revision of the Outlook on the Province's long-term rating, to Negative from Stable, reflects the delay in achieving budgetary balance, to fiscal 2016 from fiscal 2014. The delay is based on slower economic and revenue performance since the fiscal 2014 budget was tabled and the consequent reduction in forecast economic and revenue growth thereafter. HIGH DEBT: Debt is high relative to resources and has grown as the Province works toward budgetary balance. Debt management is strong and centralized, and the Province maintains ample access to liquidity for both operations and debt service requirements, supporting the 'F1+' short-term rating. FISCAL FLEXIBILITY: Fiscal flexibility has been provided by a willingness to date to adjust tax policy and by progress in constraining spending growth; budgeted contingency funds provide additional cushion. Longer term spending control remains the most persistent risk to fiscal balance, particularly given lower spending growth targets in the revised fiscal consolidation framework. DIVERSE ECONOMY: The economy is large and diverse, and historically slower growing and less wealthy than the Canadian average. Modestly paced growth continues. Vulnerabilities include global trade links, particularly with the U.S. market, and a significant manufacturing sector. SOVEREIGNTY MOVEMENT REMAINS: The sovereignty movement has been a source of uncertainty in the past although it is not a current issue. FINANCEMENT-QUEBEC'S RATING LINKED TO PROVINCE: The rating for Financement-Quebec reflects the credit strength of the Province given the Province's unconditional guarantee. RATING SENSITIVITIES INABILITY TO ACHIEVE ECONOMIC AND FISCAL TARGETS: Additional near-term economic and revenue deterioration, or an inability to attain revised fiscal targets under current forecast trends would result in a rating downgrade. CREDIT PROFILE The revision of the Outlook on Quebec's long-term 'AA-' rating, to Negative from Stable, is based on weaker-than-planned economic and revenue performance since the fiscal 2014 budget was tabled, reducing the province's near-term revenue forecast and resulting in a two-year delay, to fiscal 2016, in achieving fiscal consolidation. Although the revised fiscal framework includes additional corrective actions to return to balance and offset the additional deficit borrowing now expected in fiscal years 2014 and 2015, a higher accumulated debt burden further reverses the progress on debt reduction made by the Province during the decade prior to the last recession. Despite the slow, uneven economic recovery now underway, Quebec's credit quality continues to be supported by careful fiscal and debt management, ample access to debt markets for liquidity needs, and past success of achieving progress in debt reduction and spending control. The Province has drawn on its considerable budgetary flexibility to date as it carries out its fiscal consolidation framework, including raising a variety of taxes and curbing spending growth. The latter is a particularly notable achievement, and Fitch believes the Province has additional flexibility to reduce spending. DEBT BURDEN WILL REMAIN HIGH The Province's high debt remains its most significant long-term credit challenge, in Fitch's view. Outstanding gross debt, including debt of consolidated entities and pension liabilities, was C$191.8 billion in fiscal 2013, equal to 53.6% of GDP. Debt service, at C$7.8 billion in fiscal 2013, consumed 11.5% of fiscal 2013 budgetary revenues, a high but manageable level. Much of the current debt burden stems from accumulated deficits built over prior decades and in the years since the 2008-2009 recession, amounting to C$118.1 billion in fiscal 2013 or 33% of GDP. Total public sector debt, at C$256.4 billion, equals 71.7% of GDP. Under the revised forecast through fiscal 2018, projected gross debt gradually flattens out, albeit at higher levels than envisioned in the government's previous plan. The government forecasts that gross debt will begin to decline as a percent of GDP in fiscal 2015, and its statutory debt burden target includes achieving a gross debt to GDP ratio of 45% and accumulated deficit to GDP of 17%, in fiscal 2026. Debt figures are net of the Generations Fund balance, a reserve for debt reduction, funded at about C$5.2 billion in fiscal 2013. Despite its high debt metrics, the Province has demonstrated broad market access for borrowing and is a sophisticated debt manager. ECONOMIC GROWTH CONTINUES AT SLOWER PACE As of its November 2013 forecast, Quebec's economic performance in 2013 is estimated to have slowed considerably compared to forecast expectations in March 2013 when the government last updated its economic outlook. After rising 1.5% in 2012, real GDP in 2013 is now estimated to rise only 0.9%. Real GDP growth in 2013 was expected to be 1.3% as of the government's March 2013 forecast, and 1.5% in November 2012, when the fiscal 2014 budget was tabled. The disappointing performance is attributed to numerous factors, including continuing weak global economic trends, more modest domestic consumption and much lower inflation. Economic gains are continuing, even if at a slower pace than expected. November 2013 employment rose 0.4% year over year, compared to 1% for Canada; unemployment, at 7.2% in November 2013, was ahead of the 6.9% Canadian level. The revised forecast assumes modest labor market gains through 2013, with the unemployment rate at 7.7% for the year. Forecast expectations for 2014 appear reasonable, in Fitch's view, with higher economic growth rates, albeit off the lower 2013 base. The update assumes real GDP growth accelerating to 1.8% in 2014, unchanged from the March 2013 forecast. Growth going forward is driven in part by the accelerating, but still slow, U.S. recovery, among other factors. The strength of the economic recovery in the U.S., Quebec's main international trading partner, remains a key uncertainty to achieving forecast expectations. The next forecast update will be released in spring 2014, when the fiscal 2015 budget is tabled. DELAYED FISCAL CONSOLIDATION Quebec, as with many Canadian provinces, has been on a multi-year path to restore budgetary balance since the recession of 2008-2009. In its fiscal 2010 budget, the province announced a framework for returning to budgetary balance by fiscal 2014, with gradually diminishing annual deficits. Disappointing 2013 economic performance and its effect on recent actual revenue collections and forecast growth is now prompting a delay, to fiscal 2016, in achieving balance and requiring additional actions to consolidate the budget. To date, the province has relied on considerable fiscal flexibility to diminish projected operating deficits, although in Fitch's view much less flexibility now remains given the extent of actions taken to date. The Province estimates tax rate changes since the framework began will generate a cumulative $6.3 billion in revenues as of fiscal 2014; recent phased-in changes, notably in consumption taxes, are believed to have affected consumer demand, and the government's newly-revised consolidation plan avoids additional tax rate adjustments. Quebec has had notable success in reducing spending growth. The government's revised fiscal framework relies on additional spending controls both to offset lower revenues and absorb certain spending increases (including a recently-announced stimulus program and for retiree obligations). Program spending growth has fallen from an average of 5.6% annually during the fiscal 2007-2010 period, to 1.2% in fiscal 2013; lower than planned spending helped to absorb some of the unexpected revenue weakness experienced during fiscal 2013. The government's revised framework maintains fiscal 2014 spending at the budgeted level, while reducing projected annual growth in fiscal 2015 and beyond to 2%. Fiscal 2014 is now forecast to end with a deficit of $2.5 billion, essentially matching the November 2013 downward revision in own source revenues; fiscal 2014 own source revenue growth is now expected at 2.6%, down from 5.2% in the March 2013 plan. The revenue outlook in fiscal 2015 and beyond also has been lowered accordingly, although newly-announced budget measures reduce the projected fiscal 2015 deficit to $1.75 billion. To offset the higher near term deficits and resulting higher borrowing, the revised framework increases planned deposits to the Generations Fund beginning in fiscal 2017. AFFIRMED RATINGS Fitch's affirmation of the long-term 'AA-' rating and revision to Rating Outlook Negative applies to the following senior unsecured bonds of the Province of Quebec and Financement-Quebec, as follows: Province of Quebec: --Senior unsecured debt; --Local currency long-term rating; --Long-term issuer rating. Financement-Quebec: --Senior unsecured debt; --Local currency long-term rating; --Long-term issuer rating. In addition, Fitch affirms the short-term 'F1+' ratings on the Province of Quebec and Financement-Quebec, as follows: --Province of Quebec short-term issuer rating; --Province of Quebec short-term commercial paper; --Financement-Quebec short-term issuer rating. In accordance with Fitch's policies the issuer appealed and provided additional information to Fitch that resulted in a rating action that is different than the original rating committee outcome. Additional information is available at 'www.fitchratings.com'. Applicable Criteria and Related Research: --'Tax-Supported Rating Criteria', Aug. 14, 2012; --'International Local and Regional Governments Rating Criteria, Outside the United States', April 9, 2013. Applicable Criteria and Related Research: International Local and Regional Governments Rating Criteria http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=704438 T
  10. The Economist Total debt as % GDP 1. Japan @ 196.3% 2. Greece @ 128.5% 3. Italy @ 118.2% Canada pretty high on the list @ 82.3% The lowest total debt is Russia. Its under 9-10%.
  11. http://www.newswire.ca/en/story/975871/resources-power-economic-growth-in-the-provinces-west-of-the-ottawa-river-mining-promises-stronger-outlook-for-the-east-in-2013 So even if we create all these jobs, a 1.7% GDP increases won't pay for whining protestors and communists
  12. Guys - look at this http://www.tableaudebordmontreal.com/comparons/activiteeconomique/default1.en.html?mode=print Our economy frankly is shitting the bed. Every year our GDP growth falls behind every Canadian city. When do we hold ourselves and our politicians accountable for this mess? We all hate the Torontonization of the country, but at which point do Montrealers develop an economy that can compete?