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Good news report from Canada
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29 August 2007
21 August was the 21st day of the second month of the 2nd year of Canadian national consciousness rising to invincibility, as indicated by the following press reports:
21 August 2007
Reuters Canada - Toronto stocks hit three-day winning streak (21 August 2007) The Toronto Stock Exchange's benchmark index ended higher for a third straight day on Tuesday, the first three-day winning streak in more than five weeks. The TSX composite index closed 128.37 points, or 1 percent, higher at 13,238.71. In the past three sessions, the benchmark index has climbed 3 per cent. The resource-heavy materials sector was up 2.1 per cent.
From a Canadian Press report on this: The telecom sector was the lead advancer, up 3.4 per cent. The financial sector, which represents almost a third of the total index, rose 1.5 per cent. The tech sector ran ahead 2 per cent.
From a Bloomberg News report on this: The TSX posted the steepest three-day gain since 16 October.
CBC News - Canadian economy 'very strong,' Harper says (21 August 2007) Canada's economy remains strong, Prime Minister Stephen Harper said Tuesday. 'I can assure you that the position of the Canadian financial sector, in particularly our banks, Canadian companies in general and the household sector, our capital positions are very strong,' he said at a news conference wrapping up the North American summit at Montebello, Que.
Canadian Press - Canada's six biggest chartered banks affirm commitment to corporate loans (21 August 2007) Canada's six biggest banks affirmed their commitment to ensure that markets for bank-sponsored commercial paper, or short-term corporate loans, continue to perform satisfactorily, saying, 'This commitment is backed by the banks' strong capital positions, reflects their confidence in the quality of the underlying assets and is supported by their ongoing commitment to provide liquidity for bank-sponsored ABCP (asset-backed commercial paper) on maturity.'
From a Reuters Canada report on this: Most of the largest banks already had said they had little or no exposure to third-party or nonbank asset-backed commercial paper.
From a CBC News report on this: The Bank of Canada applauded a move Tuesday from CEOs of the country's major banks to affirm their support for the bank-sponsored asset-backed commercial paper market.
Statistics Canada - Retail trade in June (21 August 2007) Total retail sales fell 0.9% to an estimated C$34.6 billion in June after advancing 2.6% in May, the largest monthly increase in almost a decade. Newfoundland and Labrador bucked the trend in July as sales grew 1.8%, the province's seventh monthly sales increase in nine months. Buoyed by May's advance, quarterly sales growth for the April-to-June period reached 3.0% and was the largest three-month gain in almost six years. The bulk of the decline in June was due to a sales drop in the automotive sector. A decline in truck sales accounted for the entire drop in the number of new motor vehicles sold in June. Sales by gasoline stations fell 2.5%. Excluding this sector (which includes gasoline stations' sales), retail sales were essentially unchanged. Sales increased in food and beverage stores (up 0.7%), at miscellaneous retailers (up 0.4%), and in pharmacies and personal care stores (up 0.1%). Home furnishings store sales rebounded back from a drop in May (down 1.1%) to advance 1.5% in June. Supermarkets' sales rose 0.8% in June, continuing four months of consecutive sales growth. Retail sales growth accelerated in the second quarter of 2007, clocking in at a heady 3.0% and bettering the previous quarter's already solid 2.0% performance by a wide margin. Quebec had sales growth of 3.6% in the second quarter, the highest three-month gain in over 10 years.
The Globe and Mail - Inflation tame in July, holds at 2.2% (21 August 2007) Inflation was tame enough in July for the Bank of Canada to hold off raising interest rates next month, economists figure. Statistics Canada said that consumer prices rose just 0.1 per cent in July from June, leaving the country's annual inflation rate at 2.2 per cent for the fourth straight month. The core index, which the central bank uses to monitor its inflation control target, came in at 2.3 per cent in July, down from 2.5 per cent the previous month. The Consumer Price Index (CPI) rose just 1 per cent in Newfoundland and Labrador and 1.3 per cent in both Quebec and Prince Edward Island. Nova Scotia's CPI rose 1.5 per cent, British Columbia's 1.6 per cent, Ontario's 1.9 per cent.
From a CBC News report on this: 'This benign result is clearly good news for the Bank of Canada, and will give them greater comfort as they wait on the sidelines at the Sept. 5 decision date,' said BMO Capital Markets economist Doug Porter in a morning commentary. 'It appears that underlying price trends will remain moderate for a few months yet.'
From a Statistics Canada report on this: The 2.8% drop in gasoline prices from July 2006 accounted for most of the dampening effect on the rise in consumer prices. Consumers continued to enjoy declines in prices for computer equipment and supplies (-17.7%) and video equipment (-8.6%). Consumers were able to purchase and lease motor vehicles for 1.6% less than in June. The 4.6% drop in natural gas prices also mitigated the monthly increase in the CPI. Consumers spent 5.6% less for fresh vegetables in July compared with the previous month.
Canadian Press - Number of EI recipients unchanged in June (21 August 2007) Declines were seen in seven provinces and territories in the number of Canadians receiving regular Employment Insurance benefits in June. Nationally, the number of regular beneficiaries was 3.6% lower than in June 2006.
Statistics Canada - Leading indicators in July (21 August 2007) The composite leading index advanced 0.4% in July after an upward-revised gain of 0.3% in June. Of the 10 components, 6 expanded, one more than in June, while 2 were unchanged. Household spending remained the main source of growth. Consumer spending on the two durable goods components posted their largest gains in a year. Furniture and appliance sales received a boost from continued strong existing home sales over the summer and a rebound in housing starts. Spending on other durable goods continued to strengthen, underpinned by strong labour market conditions and lower prices for imported consumer goods. Business spending remained a positive force in domestic spending. The buoyancy of business investment was reflected in non-residential building permits and the volume of machinery and equipment imports, both of which hit record highs in the second quarter.
From a Bloomberg News report on this: Canada's index of leading economic indicators rose 0.4 per cent in July, more than forecast, on consumer and business spending. The gauge compiles indicators ranging from the stock market to the money supply to give a picture of the economy in the months ahead.
The National Post on Prime Minister Harper at conclusion of summit (21 August 2007) Prime Minister Stephen Harper, U.S. President George Bush, and Mexican President Felipe Calderon concluded their two-day summit in Montebello, Quebec. 'Canada, the United States and Mexico are good neighbours and good friends. As sovereign countries in the modern world we are both independent and interdependent and we are committed to working together on mutual security, continued economic growth and expanding our unique North American relationship,' said Harper, who described the meetings as cordial and constructive. 'We agreed that border security measures, critical as they are, cannot threaten the bonds of friendship or commerce between us.'
These are a few of the news reports reflecting Canada's rising invincibility from the growing Yogic Flying groups across Canada and the Invincible America Assembly at Maharishi University of Management and Maharishi Vedic City, USA.
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