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  • U.S. consumer spending flat | Small Biz Advisor
    kept their spending flat in December says the Commerce Department Instead they boosted the savings rate to its highest level in three years The department adds consumer spending was unchanged in December after rising 0 5 in November Meanwhile incomes increased 0 3 and matched the November gain As a result of flat spending and the rise in incomes the savings rate increased to 5 5 of after tax income in December But weak gains in consumer spending dragged the U S economy in the final three months of the year overall growth slowed to a meagre 0 7 rate in the fourth quarter Going forward economists expect the improving jobs market will boost spending this year and overall economic growth back above 2 In a research note Royce Mendes of CIBC Economics says Pent up demand combined with those savings should support consumer spending growth during the year With regards to the Fed s preferred measure of inflation core PCE came in at 1 4 flat from the upwardly revised prior month Mendes adds Federal Open Market Committee members are looking for evidence that prices are approaching their 2 target We still expect that increases in medical care costs

    Original URL path: http://www.smallbizadvisor.ca/news/u-s-consumer-spending-flat-4158 (2016-04-26)
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  • News | Small Biz Advisor - Part 10
    of modest economic growth in Canada is expected to challenge the labour relations Demand for ETFs high in Canada and U S BY Advisor ca January 5 2016 Last year was a record year for ETFs in Canada says a new report by Canadians less positive about finances than a year ago poll BY Staff January 4 2016 As Canadians take stock of their finances for the new year a recent poll by Manufacturing performance drops to a new low in December BY Staff January 4 2016 The Canadian manufacturing sector experienced another reduction in output volumes and new business intakes at The top 10 tech buzzwords of 2015 BY Cybele Negris PROFITGuide com December 29 2015 Cybele Negris PROFITGuide com shares her faves In what proved to be a controversial decision the Oxford 4 ways CRA is making it easier to file returns BY Advisor ca Staff December 29 2015 This week CRA announced changes meant to make the department more accessible taxes simpler to With no growth in October Bank of Canada may eye lending rate cuts BY Canadian Press December 29 2015 Canada s economy didn t grow in October and that has analysts wondering if the

    Original URL path: http://www.smallbizadvisor.ca/news/page/10 (2016-04-26)
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  • Loonie won’t fully recover until end of 2016 | Small Biz Advisor
    of global economic strategy asset allocation and currency management at CIBC Asset Management The Canadian dollar will remain weak probably revisit ing lows that were reached not that long ago he says It will continue to trade around low levels for quite a while so you re more likely to get a long consolidation phase as opposed to a quick sustainable rebound One reason is the Bank of Canada has been depreciating the loonie The objective is to be more competitive Being more competitive means exporting more to the rest of the world However Lépine explains The BoC has not been successful even though the currency had gone down significantly Its depreciation of the loonie has done little so far to cushion the downturn in Canadian economic activity via better export numbers As such the Bank may not be finished with its plan to depress the currency Plus the loonie has room to fall further The BoC has been running out of leeway and rates are already close to 0 so you can t cut interest rates a lot more But there s also talk of whether the Bank can go negative given the Canadian dollar has already been quite

    Original URL path: http://www.smallbizadvisor.ca/news/loonie-wont-fully-recover-until-end-of-2016-4218?Print (2016-04-26)
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  • Ontario’s economy projected to grow in 2016 | Small Biz Advisor
    spending will also continue to grow further helping to offset the slowdown in consumer spending Only four provinces are expected to see their economy grow by more than 2 this year British Columbia Ontario Manitoba and Nova Scotia The province s exports will be a key driver of growth for the next two years Strong demand from the United States tends to help Ontario exports Moreover the Canadian dollar is weak relative to its U S counterpart in 2016 making goods purchased in Ontario relatively cheaper for U S producers International exports are forecast to grow by 4 7 in 2016 due largely to increased trade with the United States Business investment is also expected to pick up this year Residential investment which comprises a significant portion of business investment in Ontario will increase by 5 1 in 2016 Residential investment surged in 2015 as homebuyers rushed to avoid the federal government s new mortgage regulations and take advantage of still low mortgage rates In addition sustained export growth will encourage investment in machinery and equipment to help boost manufacturing capacity Government spending will weigh on economic growth over the next two years as the provincial government continues to hold

    Original URL path: http://www.smallbizadvisor.ca/news/ontarios-economy-projected-to-grow-in-2016-4217?Print (2016-04-26)
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  • Minimum wage hike does more harm than good: think tank | Small Biz Advisor
    in low income households as defined by Statistics Canada s Low Income Cut off or LICO A household with income under the LICO line will likely devote a larger share of its income on food clothing and shelter than the average family Moreover nearly 60 of minimum wage earners are teenagers or young adults ages 15 to 24 often working their first job with the vast majority 85 living with parents or other relatives Another 20 live with an employed spouse Crucially just 2 of Canadian minimum wage earners are single parents with at least one child The perception that the typical minimum wage earner is a single parent struggling to survive does not align with the facts Lammam said Moreover minimum wage hikes can do considerable harm by decreasing employment opportunities for low skilled workers the very group the policy is designed to help According to Canadian research a 10 increase in the minimum wage reduces employment for low skilled workers by between 3 and 6 These unintended consequences along with its inability to target low income workers explain why the minimum wage is not effective at reducing poverty and in some cases can make matters worse Despite these

    Original URL path: http://www.smallbizadvisor.ca/news/minimum-wage-hike-does-more-harm-than-good-think-tank-4215?Print (2016-04-26)
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  • U.S., China manufacturing shrink | Small Biz Advisor
    50 signals a decline Manufacturing has now contracted in the U S for five straight months Two Chinese surveys of manufacturing activity released separately Tuesday showed deterioration in February The global economy has been lacklustre partly because the Chinese growth has decelerated sharply Internationally manufacturers have endured much of the fallout from sluggish worldwide growth The ISM reports that U S manufacturing employment and exports fell but new orders and production increased Some economists say the February ISM index reading the highest since September signals that American manufacturing might have hit bottom The worst is over but don t expect a strong rebound Ian Shepherdson chief economist at Pantheon Macroeconomics wrote in a report American manufacturers have been hurt by cutbacks in the energy industry following a sharp drop in oil prices and by a strong dollar which makes U S goods more expensive in foreign markets The ISM a trade group of purchasing managers surveys about 200 U S companies each month In China an index based on an official survey of factory purchasing managers dropped to 49 0 in February from 49 4 in January the seventh straight month of contraction The China Federation of Logistics and Purchasing

    Original URL path: http://www.smallbizadvisor.ca/news/u-s-china-manufacturing-shrink-4212?Print (2016-04-26)
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  • Canadian economy grew 0.8% in Q4: Statistics Canada | Small Biz Advisor
    decrease in imports The economy fell into a technical recession at the start of 2015 when it contracted over the first two quarters by a revised 0 9 and again by a revised 0 4 Real GDP increased by a revised 2 4 in the third quarter The reading was released as the federal government prepares a spring budget expected to contain billions of dollars worth of commitments such as infrastructure spending that it insists will help revive economic growth and create jobs The budget date is March 22 Last week the Liberal government acknowledged next year s deficit could surpass 20 billion and some observers believe it could reach as high as 30 billion Statistics Canada also says Tuesday that the country s terms of trade a measure of export prices relative to import prices sunk for the fifth consecutive quarter to reach its lowest level since late 2003 Looking back at 2015 the agency found that the economy grew by 1 2 less than half of the 2 5 pace for 2014 Before that the economy grew 2 2 in 2013 1 7 in 2012 and 3 1 in 2011 The report says the 2015 reading was dragged

    Original URL path: http://www.smallbizadvisor.ca/news/canadian-economy-grew-0-8-in-q4-statistics-canada-4211?Print (2016-04-26)
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  • Cyber risks continue to grow | Small Biz Advisor
    Incidents of ransomware and extortion driven attacks are expected to increase in Canada particularly within the public legal and financial services sectors given the private and sensitive nature of the information these organizations hold 2 Mandatory breach notification Consumers governments privacy commissioners and courts will increasingly pressure Canadian organizations to be more transparent about their cyber security readiness responsiveness and breach notification protocol KPMG anticipates an increase in breach management and notification costs in 2016 due to the Digital Privacy Act s mandatory breach notification requirement This act will require organizations to notify affected consumers about security breaches that pose a risk of significant harm 3 Increased risk with use of mobile devices and the growing pervasiveness of the Internet of Things IoT As more players service providers and third party suppliers become part of the mobile and IoT ecosystem these parties may not have completed sufficient security testing In the absence of generally accepted security standards for these devices Canadians will start to demand assurances that all suppliers have suitable security and privacy policies and safeguards in place 4 Greater use of real time intelligence tools to monitor live attacks It is imperative businesses detect threats as early as

    Original URL path: http://www.smallbizadvisor.ca/news/cyber-risks-continue-to-grow-4207?Print (2016-04-26)
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