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Report from Canada: Good news

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30 October 2007

15 October was the 15th day of the fourth month of the 2nd year of Canadian national consciousness rising to invincibility, as indicated by the following press reports:

15 October 2007

The Vancouver Sun - Strong consumer demand lifts Canadian economic outlook (15 October 2007) Canada's index of leading economic indicators rose more than expected in September, driven mainly by strong consumer demand and the resilience of financial markets amid a global credit-crunch crisis, Statistics Canada said. The composite index was up 0.4 per cent last month, compared with a 0.3-per-cent increase in August. Many analysts had forecast a gain of 0.3 per cent. The housing component of the index jumped by 5.3 per cent—its biggest increase in almost six years—as the number of housing starts rose.

'Household demand remained the driving force behind growth,' the agency said. 'Spending on durable goods also accelerated.' The stock market rebounded in September. 'More importantly, the index showed little or no effect from the turmoil in some parts of financial markets that began in mid-August,' it said. 'In particular, there were concerns that unsettled financial market conditions would affect output and employment, but strong gains in housing starts and jobs in September showed that these were unfounded.' Millan Mulraine, economics strategist at TD Securities, said September's index reading 'certainly adds to the slew of recent indicators that continue to suggest that the Canadian economy remains in very good shape, with the robust housing sector providing a key source of strength.'

From a Bloomberg News report on this: The gauge compiles indicators from the stock market to the money supply to give a picture of the economy in the months ahead. Seven of 10 components rose in September.

The Canadian Press - Mutual funds return to positive sales in September: $993.8 million (15 October 2007) Investors returned to mutual funds in September as the industry booked C$993.8 million in net sales for the month, compared with C$930.5 million in September 2006. 'With better than expected capital market returns for September, assets under management grew by C$5.5 billion to finish the month at C$701.4 billion,' Pat Dunwoody, vice-president of the Investment Funds Institute of Canada, said. This asset total was up by 15 per cent from September 2006. So far this year, net sales excluding reinvested distributions total C$27.8 billion, more than double the C$13 billion recorded in the first nine months of last year.

From a CBC News report on this: A volatile summer on North American stock markets didn't put mutual fund investors in a selling mood for long, as almost C$1 billion in net new money streamed in last month.

The Canadian Press - New car-truck sales jumped in August, Statistics Canada says (15 October 2007) Statistics Canada says sales of new cars and trucks rose 2.8 per cent in August to 143,606 vehicles. Truck sales rose 4.9 per cent following two months of declines, while car sales gained 0.8 per cent after slipping 2.3 per cent in July.

From the Statistics Canada report: Although all but three provinces saw sales rise in August, 95% of the national increase came from Quebec (up 4.6%) and Ontario (up 4.3%).

The Canadian Press - Canadian retailers will cut prices as loonie surges, says mall developer (14 October 2007) A developer says his dream of building one of Canada's newest and largest malls near Montreal won't be undermined by bargain hunters making a beeline to U.S. stores. 'It takes time for the market to adjust,' Sheldon Gordon, chairman of Gordon Group Holdings, said. The march to lower prices in Canada [due to the rapid rise in value of the 'loonie', popular name for the Canadian dollar] has already started and should be felt in time for Christmas, says John Winter, a retail analyst at John Winter Associates. Retailers who are paying less for merchandise ordered for the holiday shopping season should pass along savings from a higher Canadian dollar to consumers, he said.

The Canadian Press - Atlantic Gateway project moves ahead (14 October 2007) The national government in Ottawa has reached an agreement surrounding the development of the Atlantic Gateway with the four provinces (New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island) whose roads, railways, and ports could make the region a major hub for international trade. Nova Scotia MP Peter MacKay and ministers from the Atlantic provinces signed a memorandum of understanding Sunday. 'This is a new approach, a smarter approach,' said Mr MacKay, the minister responsible for the Atlantic Canada Opportunities Agency. 'All four Atlantic provinces are working together, pulling together and moving in the same direction with the federal government,' said Mr. MacKay. Ottawa set aside C$2.1 billion in gateway funding over seven years in its March budget. Earlier this month, a report by InterVISTAS Consulting Inc. said the Atlantic Gateway concept could create 61,000 new jobs by 2025, and result in C$2.1 billion in wages and C$3.4 billion in new GDP.

From a Halifax Chronicle Herald report on this: The Atlantic Gateway business case released on 5 October concluded the region is a prime area to receive goods from overseas, in particular China, Southeast Asia, and India.

From a CBC News report on this: 'Canada's prosperity and quality of life depend on our success as a trading nation,' Peter MacKay said. 'We're ready for the world to come to our doorstep.'

The Vancouver Sun - Jobs analysis shows resiliency of immigrants (12 October 2007) New immigrants to British Columbia are approximately twice as likely to be jobless as their Canadian-born neighbours, according to BC Stats. This is not surprising, experts say, as many immigrants, especially those professionally trained, hit a seemingly endless series of roadblocks from regulatory and credentialling bodies. But what is surprising—not in the context of immigrants' historical economic integration, but given their present-day difficulties—is how well they do after they've been in Canada a few years. An analysis of 2006 census data shows the unemployment rate for adults who arrived in B.C. more than 10 years ago to be just 3.8 per cent for men and 4.3 per cent for women, one-half to three-quarters of a percentage point lower than their Canadian-born counterparts. In addition, they're much more likely to be well-educated, with two and one-half times the likelihood of having a university degree.

CBC News - Wind turbine construction near Moncton begins (12 October 2007) The sod has been turned for New Brunswick's first 32-turbine wind farm in Albert County. The company behind the C$170 million project has been working on it for years, including meeting with local landowners, environmentalists, and native groups. The 96-megawatt project should be on line in 2008. The province is trying to increase the production of renewable electricity by 10 per cent by 2016. Currently about 23 per cent of the electricity consumed in the province comes from renewable sources. The facility will provide 280,000 megawatt hours of power per year, which will meet the electricity needs of approximately 17,300 homes.

The Toronto Star - Final stage begins on huge 'gift' to GTA (15 October 2007) Ground has been broken for the last of a massive three-part community development project in the Greater Toronto Area (GTA). Howard English, vice-president of the United Jewish Appeal Federation of Greater Toronto, called the project 'a huge addition to the fabric of this country', following the ceremony for the Sherman Campus that will be home to Jewish organizations dedicated to building community within a vibrant hub of cultural, educational, and recreational activities. The Sherman Campus is part of the United Jewish Appeal Federation of Greater Toronto's C$350 million Tomorrow Campaign. English said the campaign is the largest non-profit infrastructure project in North America and one of the largest in the world. 'This is being built by the Jewish community, but is open to all residents, no matter what race, creed, ethnic origin or background,' he said. 'This is our gift to the Greater Toronto Area.'

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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