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Good news report from Canada

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9 September 2007

31 August was the 31st day of the second month of the 2nd year of Canadian national consciousness rising to invincibility, as indicated by the following press reports:

31 August 2007

Bloomberg News - Canadian Economy Grew a Faster-Than-Forecast 3.4 Percent in Second Quarter (31 August 2007) Canada's economy grew faster than expected between April and June. Growth came in at an annualized 3.4 per cent rate, Statistics Canada said. 'It reflects a vibrant economy,' said Stefane Marion, an economist with National Bank Financial in Montreal. 'It looks like the Canadian economy is extremely healthy right now, with two quarters of well-above potential growth,' Jacqui Douglas, an economist with TD Securities in Toronto, said. Consumer spending on goods and services, which make up almost 60 per cent of GDP, grew at an annualized 4.9 per cent rate between April and June, up from 3.4 per cent in the first quarter and the fastest in three quarters. Canadian employers have added workers in 10 of the past 11 months, including 208,000 new jobs since the beginning of the year, stimulating consumer demand. Exports rose 2.9 per cent in the second quarter. Manufacturing posted the first quarterly gain since the fourth quarter of 2005. Investment by businesses, which includes spending on residential construction as well as machinery and equipment, advanced 4.5 per cent, from the first quarter's 2.1 per cent annualized pace.

From a Reuters Canada report on this: 'It was a barnburner performance for consumers in particular but it was a solid report through and through,' said Eric Lascelles, strategist at TD Securities. 'It certainly does reiterate the point that the Canadian economy is on fire.' Statscan (Statistics Canada) noted strength throughout the economy. The Bank of Canada's next interest rate announcement is on 5 September. Recent inflation data have been tame, buying the bank more time.

From a Globe and Mail report on this: Second-quarter growth is solid above the Bank of Canada's own projection of 2.8 per cent.

From a CanWest News Service report on this: GDP growth for June was also a pleasant surprise, increasing 0.2 per cent where most economists had expected the reading to be flat. The sharp gain in the Canadian dollar saw business investment in machinery and equipment rebound 1.5 per cent in the second quarter.

From a CTV News report on this: Business News Network's Linda Sims said growth is happening across almost all sectors. 'What you're seeing is really an economy that's firing on almost all cylinders,' Sims told CTV.

From a CBC News report on this: 'This points to better-than-expected momentum for the economy heading into the second half of the year,' said BMO Capital Markets economist Doug Porter. Consumer spending was powered by income gains, StatsCan said. Residential construction spending surged at an annual rate of 5.2 per cent. Exports—which were expected to drop with the higher Canadian dollar—actually rose at a faster pace than in the first quarter.

Reuters Canada - Consumer confidence up in August: survey (31 August 2007) Canadian consumer confidence remains robust, despite the recent turmoil in financial markets, the Conference Board of Canada said on Friday. The board's index of consumer confidence rose 0.9 per cent in August to 99.5, well above its two-year average. The August survey showed that the number of Canadians who thought their family would be better off in six months rose to 31.7 per cent from 29.7 per cent in July. The number of Canadians who thought there would be more jobs in their local market in six months rose to 23.2 per cent, from 21.7 per cent.

Reuters Canada on Toronto stocks end month with 215 point jump (31 August 2007) The main index of the Toronto Stock Exchange capped the month with a broad-based surge of more than 200 points on Friday. The TSX composite index rose 215.85 to close at 13,660.48. The index was up 1 per cent for the week. All of the benchmark's 10 main subgroups gained ground on Friday, including the key materials sector, which added 2.35 per cent. Advancers easily outpaced decliners by a comfortable 1,188 to 388.

From a Canadian Press report on this: The financial sector was up 0.8 per cent. The metals and mines sector jumped three per cent. The tech sector was also a big gainer, up 2.8 per cent. The TSX gained 140 points on the week.

From a Bloomberg News report on this: Investors took in data showing strong Canadian economic growth. Industrial stocks advanced 3.3 per cent. Phone and cable companies rose by 1.8 per cent. 'It's a super day,' said Michael Smedley, who helps manage C$1.2 billion at Morgan Meighen & Associates in Toronto. 'There's no reason to believe that global growth won't remain strong,' said Smedley.

Bloomberg News - Canada's Dollar Gains For 3rd Day As GDP Report Prompts Rate Speculation (31 August 2007) The Canadian dollar rose for a third day on Friday after a report showed Canada's economy grew faster than expected between April and June. 'The Canadian dollar has got a good lift from today's economic data,' said Steve Butler, director of foreign exchange trading at Scotia Capital in Toronto. The Canadian currency rose 0.3 per cent to 94.73 U.S. cents from 94.46 cents Thursday. The Canadian currency has risen 10.4 per cent against the U.S. dollar this year, making it the best performer among the 16 most-actively traded currencies.

From a Reuters Canada report on this: A Reuters poll taken after the GDP numbers showed that all 13 of Canada's primary securities dealers predict the central bank would leave interest rates steady next week. The majority now expect rates to remain on hold for the rest of the year.

The Globe and Mail - McGuinty plans ban on pesticides (30 August 2007) Ontario homeowners would no longer be able to use chemicals on their lawns, under Liberal Leader Dalton McGuinty's campaign pledge to make a provincewide ban on the cosmetic use of pesticides on lawns, gardens, and parks. The College of Family Physicians of Ontario released a report in 2005 concluding that various pesticides had adverse health effects.

From a CBC News report on this: Citing potential health risks, 25 municipalities across the province, including Toronto and London, have banned the cosmetic use of chemicals that kill bugs and weeds. In those municipalities, homeowners and commercial companies can no longer use the pesticides for cosmetic use on lawns and gardens.

Canadian Press - Greens vow to helps schools produce own clean energy (30 August 2007) The Green Party of Ontario says it will offer loans to school boards to help finance the construction of renewable energy projects. Leader Frank de Jong is calling on all Ontario schools to participate in green energy production. De Jong says schools that generate their own solar and wind power will benefit environmentally and financially. He says it also poses a valuable educational opportunity.

Reuters Canada on wind industry growth (31 August 2007) The wind industry has recently exploded in Canada. Canada has 1,588 megawatts of installed wind capacity, about 0.5 per cent of its total electricity supply. Some 2,700 MW of new wind energy is contracted to come on line in the next few years. It could easily get 20 per cent of its energy needs from wind alone, said Robert Hornung, president of the Canadian Wind Energy Association. 'Canada, quite possibly, has the best wind resources in the world.'

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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Copyright © 2007 Global Good News(sm) Service

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