REVscene - Vancouver Automotive Forum


Welcome to the REVscene Automotive Forum forums.

Registration is Free!You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today! The banners on the left side and below do not show for registered users!

If you have any problems with the registration process or your account login, please contact contact us.


Go Back   REVscene Automotive Forum > Automotive Chat > Vancouver Off-Topic / Current Events

Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.

Reply
 
Thread Tools
Old 08-01-2015, 03:22 AM   #1
2x Variable Nockenwellen Steuerung
 
Join Date: Oct 2002
Location: N49.2 W122.1
Posts: 6,179
Thanked 1,175 Times in 705 Posts
Canada in ‘mild recession’ after economy shrinks five months in a row

With people going apesheep about lions, dogs, scooters.. no one talked about we are in a recession!! Not just a technical one With Amazon just opened at Braid street and coming downtown.. I think it will be interesting times for Lower Mainland.

But seems construction is still going well in town, still get some companies turn down multimillion projects.

Canada in ?mild recession? after economy shrinks five months in a row - The Globe and Mail

SERES LU The Globe and Mail

Published Friday, Jul. 31, 2015 8:39AM EDT
Last updated Friday, Jul. 31, 2015 4:47PM EDT

Canada’s economy has chalked up its longest slump since the Great Recession amid trouble from the oil patch to the factory floor.

The economy contracted 0.2 per cent in May, Statistics Canada said Friday, marking the fifth consecutive month of decline. It also showed a surprise drop in manufacturing of 1.7 per cent.

The Bank of Canada is projecting a GDP loss of 0.5 per cent for the second quarter, following a 0.6-per-cent loss in the first quarter.

But the hope is that the weaker Canadian dollar and lower interest rates will still spark a rebound in the second half of the year, one Canadians have been waiting on despite anticipation since January of stimulated exports and manufacturing activity.

Soft American demand in the first quarter proved a drag on expected growth while the oil and gas sector further demonstrated heavy influence on manufacturing.

“The oil and gas sector accounts for 25 per cent of all of our capital spending. It’s not the largest driver of manufacturing activity in Canada, but it’s been responsible for a lot of the growth in recent years,” said Mike Holden, director of policy and economics at Canadian Manufacturers and Exporters, an industry association. “You cut out that growth driver and suddenly you’re left in a situation that looks like this.”

Manufacturing has disappointed expectations this year. The sector has grown only once so far, by 0.2 per cent in March, and has overall seen a 2.3-per-cent decline from the same period last year.

“There’s been a lot of cancelled or delayed oil sands projects and energy sector projects in Alberta and across the country,” Mr. Holden said. Those projects would have fed demand in manufacturing for machinery and equipment, all of which has disappeared because of the poor outlook for energy and mining. The durable manufacturing sector is down by 4.8 per cent from last May, tracking a 6.9-per-cent decrease in the energy sector.

Though manufacturing had the biggest decline, it wasn’t the only sector hurting. May numbers saw three out of five goods-producing industries and 11 out of 15 service industries post declines.

“What’s notable is the breadth of weakness in May,” said Douglas Porter, chief economist at BMO. “It was spread across a number of sectors and we can’t just point to the resource sector. Some of the other declines are tough to explain away.”

And yet analysts remain optimistic for a positive showing in June, though perhaps with less emphasis on manufacturing.

“We think it will be a solid month for GDP in June,” said Mr. Porter, citing strong auto and home sales and robust hours-worked employment numbers. “We don’t want to exaggerate the numbers, but June should be positive.”

It won’t be enough to reach the 1 per cent needed to swing the second quarter as a whole into the positive, however, which still leaves Canada with two consecutive quarters of economic contraction. By one technical definition, that would place Canada in a recession.

“What we are experiencing now would be a mild recession,” said Randall Bartlett, senior economist at TD. He points to a classification system used by the C.D. Howe Institute’s Business Cycle Council, which unofficially acts as a deciding body on business cycle dates in Canada. The system ranks recessions on a scale of 1 to 5, where category 1 recessions are defined as having only a short, mild drop in GDP and no decline in quarterly employment. “We would be in a category 1 recession right now,” he said.

But most economists agree brighter times are around the corner, with the economy moving past the negative effects of a host of temporary factors, ranging from bad weather to plant closings to wild fires. Increased spending for the coming federal election, the recent $3-billion payout in government childcare benefits and the continuing low run of the loonie are expected to provide stimulus.

“We expect to see growth of 1.5 to 2 per cent for the second half of 2015 and roughly 2 to 2.5 per cent for next year,” Mr. Bartlett said. “It’s not stellar growth, but it’s definitely better than what we are seeing right now.”

With files from Ahmad Hathout
Advertisement

Last edited by godwin; 08-01-2015 at 03:39 AM.
godwin is offline   Reply With Quote
Old 08-01-2015, 08:48 AM   #2
Everyone wants a piece of R S...
 
Join Date: Mar 2011
Location: YYZ
Posts: 394
Thanked 476 Times in 123 Posts
"The Canadian dollar is expected to continue its swan dive through 2015, a new report from TD Economics said Monday.

The bank’s economics department suggests the loonie will hit a low of 75 cents U.S. by the beginning of next year as the dollar depreciates because of low oil prices and their impact on the domestic economy."

Canadian dollar expected to slip to fresh low of 75 cents, TD says - National | Globalnews.ca
AstulzerRZD is offline   Reply With Quote
Old 08-01-2015, 09:07 AM   #3
Head of HR....have a seat on that couch
 
fliptuner's Avatar
 
Join Date: Jan 2003
Location: Coquitlam
Posts: 20,336
Thanked 13,195 Times in 3,597 Posts
Meanwhile, this week, 2 friends sold their properties on the first offer date, for significantly over asking, w/o subjects.

Dat GVRD real estate anomaly.......
__________________
feedback

Originally posted by v.b.
can we stop, my pussy hurts...
Originally posted by asian_XL
fliptuner, I am gonna grab ur dick and pee in your face, then rub shit all over my face...:lol
Originally posted by Fei-Ji
haha i can taste the cum in my mouth
Originally posted by FastAnna
when I was 13 I wanted to be a video hoe so bad


RSUV #7
fliptuner is offline   Reply With Quote
Old 08-01-2015, 09:46 AM   #4
I contribute to threads in the offtopic forum
 
yray's Avatar
 
Join Date: Jan 2012
Location: PENIS
Posts: 2,775
Thanked 2,745 Times in 788 Posts
Mild....
__________________
There's a phallic symbol infront of my car

Quote:
MG1: in fact, a new term needs to make its way into the American dictionary. Trump............ he's such a "Trump" = ultimate insult. Like, "yray, you're such a trump."
[10-11, 09:24] dapperfied yraisis
[10-11, 09:24] dapperfied yray so waisis

[29-06, 13:42] FastAnna you literally talk out your ass
[29-06, 13:41] FastAnna i really cant
[29-06, 13:41] FastAnna yray i cant stand you
yray is online now   Reply With Quote
This post thanked by:
Old 08-01-2015, 09:54 AM   #5
nah
My homepage has been set to RS
 
nah's Avatar
 
Join Date: May 2001
Location: New Westminster
Posts: 2,264
Thanked 339 Times in 148 Posts
tip of the iceberg...
nah is offline   Reply With Quote
Old 08-01-2015, 10:32 AM   #6
WOAH...shut the music off...
 
GLOW's Avatar
 
Join Date: Aug 2006
Location: Vancouver
Posts: 7,799
Thanked 4,706 Times in 1,888 Posts
Quote:
Originally Posted by fliptuner View Post
Meanwhile, this week, 2 friends sold their properties on the first offer date, for significantly over asking, w/o subjects.

Dat GVRD real estate anomaly.......
That's the competition you face
I know dat feel tho
__________________
Feedback
http://www.revscene.net/forums/showthread.php?t=611711

Quote:
Greenstoner
1 rat shit ruins the whole congee
Quote:
[04-06, 11:34]radiomanI'm doing happy hour with bj#3 today
[07-04, 10:27]radiomani need just the tip
[22-12, 08:51]mellomandidnt think and went in straight..scrapped like a bitch
[17-09, 12:07]FastAnna glowjob
[17-09, 12:08]FastAnna I like dat

GLOW is online now   Reply With Quote
Old 08-01-2015, 02:45 PM   #7
My homepage has been set to RS
 
tool001's Avatar
 
Join Date: Apr 2005
Location: vancouver
Posts: 2,214
Thanked 810 Times in 274 Posts
Don't tell Harper government that..
tool001 is offline   Reply With Quote
Old 08-01-2015, 04:59 PM   #8
I contribute to threads in the offtopic forum
 
Hehe's Avatar
 
Join Date: Dec 2002
Location: YVR/TPE
Posts: 2,954
Thanked 1,385 Times in 576 Posts
Except real estate, I'm not sure what industry is doing well in Canada.

My ex-colleague is telling me that my office has just layoff 12 people due to strong competition from US.

My friend who owns a supermarket has a drop of 15% in revenue last month alone.

Another friend who works at Ford is barely making enough so he still has a shelter and food on the table.

It's time for Harper to admit that their bet on a resource-oriented economy plan for Canada has failed (same as Russia) and move to something else.

Too bad it's election year, so it's all about saving face. They would never recognize that they have made a mistake.
__________________
Nothing for now
Hehe is offline   Reply With Quote
This post thanked by:
Old 08-01-2015, 06:55 PM   #9
MG1
Fathered more RS members than anybody else. Who's your daddy?
 
Join Date: Aug 2002
Posts: 18,767
Thanked 8,250 Times in 3,275 Posts
Us old time frugal types who've been through some tough times will do just fine. I worry about the young ones who have no idea how to cope when things get worse.
__________________
Quote:
"there but for the grace of god go I"

substitute the word "god" with Allah, Mohammed, Buddha, Odin, your parents, whathaveyou..........
MG1 is online now   Reply With Quote
This post thanked by:
Old 08-01-2015, 07:23 PM   #10
2x Variable Nockenwellen Steuerung
 
Join Date: Oct 2002
Location: N49.2 W122.1
Posts: 6,179
Thanked 1,175 Times in 705 Posts
I lived through adult life in the last 3 recessions 80s, 90s, 00s.. This one is "mild", so far.. The worst one I remember was the one in the 90s, when CTV runs story every night about how RE agents were going broke and house sales broke record lows etc.

I think because we are out of sync right now with the States.. the States and UK are doing well.. so all car manufacturers in Ontario are doing awesome.. Movie industry here are doing great. Avcorp is doing overtime..

I go agree with MG1 though, but that's natural selection / Darwin award / Dog eat Dog world / reality.
godwin is offline   Reply With Quote
Old 08-01-2015, 08:46 PM   #11
I contribute to threads in the offtopic forum
 
jasonturbo's Avatar
 
Join Date: Feb 2008
Location: North Van
Posts: 2,734
Thanked 6,667 Times in 1,188 Posts
Canada did not push for a resource based economy, it was a a three pronged approach:

- Develop resources
- Encourage immigration (see item below lol)
- Fuel residential and commercial real estate

They pushed resource development with generous tax breaks and royalties, they drove the population up with immigration, and they propped up the economy with sub par lending practices and emergency interest rates.

Here's to planning ahead!
__________________
Quote:
Originally Posted by jasonturbo
Follow me on Instagram @jasonturtle if you want to feel better about your life
jasonturbo is online now   Reply With Quote
Old 08-02-2015, 09:10 AM   #12
Rs has made me the woman i am today!
 
Join Date: Apr 2001
Posts: 4,353
Thanked 1,794 Times in 823 Posts
Quote:
Originally Posted by Hehe View Post

My friend who owns a supermarket has a drop of 15% in revenue last month alone.

Another friend who works at Ford is barely making enough so he still has a shelter and food on the table.

It's time for Harper to admit that their bet on a resource-oriented economy plan for Canada has failed (same as Russia) and move to something else.

Too bad it's election year, so it's all about saving face. They would never recognize that they have made a mistake.
Retail is doing well as the industry is splintering into high-end and low-end markets. Dollarama is expanding like gangbusters while at the high-end, sales at Holt and Rosen seem to be doing well enough to fund expansions and renovations. Luxury car sales seem to be strong too - even an average Joe can afford a 4-cylinder, leatherette, de-contented BMW or Benz with the very attractive leasing programs. Ford is doing poorly because they've been living off their truck business for the last decade.

The supermarket business has always been cutthroat. Of course, it doesn't help that the cost of everything is going up, so people are substituting proteins or relying on no-names to get by. People also expect loyalty programs in return for their patronage. I also think that the market is splintering with upper middle income earners going to farmer's markets and organic grocers, such as Whole Foods.

Harper relied on a resource economy because that's where the votes were. He can pretty much count on 25-30% support at any one time, regardless of the circumstances.
Tapioca is offline   Reply With Quote
Old 08-02-2015, 10:52 PM   #13
Proud to be called a RS Regular!
 
NotRevSeen's Avatar
 
Join Date: Oct 2014
Location: Kits
Posts: 119
Thanked 224 Times in 52 Posts
Move to another province where your bang for your buck gets you further. Face it, Vancouver is expensive as hell. Nobody really wants to move to one of the prairie or maritime provinces, but in all honesty it would be cheaper to live. You gotta pay to play and frankly everyone is paying to be able to make Vancouver their home. Supply & demand at its finest!
NotRevSeen is offline   Reply With Quote
This post FAILED by:
Old 08-02-2015, 11:00 PM   #14
Willing to sell body for a few minutes on RS
 
Manic!'s Avatar
 
Join Date: Apr 2004
Location: Nanaimo
Posts: 10,408
Thanked 3,823 Times in 1,748 Posts
Quote:
Originally Posted by NotRevSeen View Post
Move to another province where your bang for your buck gets you further. Face it, Vancouver is expensive as hell. Nobody really wants to move to one of the prairie or maritime provinces, but in all honesty it would be cheaper to live. You gotta pay to play and frankly everyone is paying to be able to make Vancouver their home. Supply & demand at its finest!
Vancouver does not equal all of B.C.
__________________
I don't need an amplifier I'm already big, best on any track call me the Stig - Shizzo

Dusty Nuggets Rusty Shackleford Cuntar
Manic! is offline   Reply With Quote
Old 08-03-2015, 12:30 AM   #15
reads most threads with his pants around his ankles, especially in the Forced Induction forum.
 
Mr.HappySilp's Avatar
 
Join Date: Mar 2004
Location: Vancouver
Posts: 9,546
Thanked 1,665 Times in 847 Posts
Quote:
Originally Posted by Tapioca View Post
Retail is doing well as the industry is splintering into high-end and low-end markets. Dollarama is expanding like gangbusters while at the high-end, sales at Holt and Rosen seem to be doing well enough to fund expansions and renovations. Luxury car sales seem to be strong too - even an average Joe can afford a 4-cylinder, leatherette, de-contented BMW or Benz with the very attractive leasing programs. Ford is doing poorly because they've been living off their truck business for the last decade.
Yea all thanks to the rich immigrants who like to buy high end brands, drive up the price of property and force a lot of hard working class to rent or move away to farther away (IE Port Moody, White Rock). Lets face it even Burnaby, Coq housing price is insane.

Pretty much we are divided into two groups now. People who have money (high class and rich immigrants) and middle/low/students buying and spending their money on low end products.
Mr.HappySilp is online now   Reply With Quote
This post thanked by:
Old 08-03-2015, 02:55 AM   #16
Rs has made me the man i am today!
 
Join Date: Dec 2007
Location: Shanghai
Posts: 3,386
Thanked 748 Times in 298 Posts
Quote:
Originally Posted by Mr.HappySilp View Post
Yea all thanks to the rich immigrants who like to buy high end brands, drive up the price of property and force a lot of hard working class to rent or move away to farther away (IE Port Moody, White Rock). Lets face it even Burnaby, Coq housing price is insane.

Pretty much we are divided into two groups now. People who have money (high class and rich immigrants) and middle/low/students buying and spending their money on low end products.
that's pretty much how every major city is in the world. Manhattan is full of rich non local americans/foreigners, london, tokyo, hong kong, shanghai. All the "locals" are either pushed to the burbs or move to cheaper alternative cities. Only place not like this is norway, they just dont give a fuk if you have money or not. You're not getting in means you're not getting in
__________________
P H O T O G R A P H E R
www.jacksonzhao.com
J____ is offline   Reply With Quote
This post thanked by:
Old 08-03-2015, 05:27 AM   #17
Need to Shave n Shower, but I CANT STOP POSTING ON RS
 
Join Date: May 2005
Posts: 19,767
Thanked 6,444 Times in 1,212 Posts
http://www.ccdi.gov.cn/
Canada and China signing deal to share ?corruption? assets

go report your Chinese neighbour to have their illegal asset confiscate
asian_XL is offline   Reply With Quote
This post thanked by:
Old 08-03-2015, 05:28 AM   #18
Need to Shave n Shower, but I CANT STOP POSTING ON RS
 
Join Date: May 2005
Posts: 19,767
Thanked 6,444 Times in 1,212 Posts
.
asian_XL is offline   Reply With Quote
Old 08-03-2015, 07:23 AM   #19
Banned (ABWS)
 
Join Date: Sep 2013
Location: Vancouver
Posts: 2,452
Thanked 2,665 Times in 960 Posts
Quote:
Originally Posted by Mr.HappySilp View Post
Pretty much we are divided into two groups now. People who have money (high class and rich immigrants) and middle/low/students buying and spending their money on low end products.

As long as we live in a culture that defines "success" by how much money you have, the above will be the natural order of things!
multicartual is offline   Reply With Quote
This post thanked by:
Old 08-03-2015, 07:46 AM   #20
Banned (ABWS)
 
Join Date: Sep 2013
Location: Vancouver
Posts: 2,452
Thanked 2,665 Times in 960 Posts
Quote:
Originally Posted by JasonDussault39 View Post
where did our dollar go?

I get paid in USD... let it slide baby, woo!!!
multicartual is offline   Reply With Quote
This post thanked by:
Old 08-03-2015, 08:11 AM   #21
Need to Shave n Shower, but I CANT STOP POSTING ON RS
 
Join Date: May 2005
Posts: 19,767
Thanked 6,444 Times in 1,212 Posts
and you don't get double taxed?
asian_XL is offline   Reply With Quote
This post thanked by:
Old 08-03-2015, 08:23 AM   #22
Proud to be called a RS Regular!
 
NotRevSeen's Avatar
 
Join Date: Oct 2014
Location: Kits
Posts: 119
Thanked 224 Times in 52 Posts
Quote:
Originally Posted by Manic! View Post
Vancouver does not equal all of B.C.
I was referring to Vancouver proper. There are many places in BC that I would agree is cheaper but you're talking about small town remote locations that I don't see droves of people willing to move to, because a large majority wants to live in the GVRD.
NotRevSeen is offline   Reply With Quote
Old 08-03-2015, 11:24 AM   #23
Captain Happy Bubble is my Homeboy
 
Join Date: Jun 2013
Location: Somewhere
Posts: 343
Thanked 574 Times in 138 Posts
Quote:
Originally Posted by asian_XL View Post
?????????
Canada and China signing deal to share ?corruption? assets

go report your Chinese neighbour to have their illegal asset confiscate
I can't believe this is finally happening.
NKC ONE is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off



All times are GMT -8. The time now is 07:47 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
SEO by vBSEO ©2011, Crawlability, Inc.
Revscene.net cannot be held accountable for the actions of its members nor does the opinions of the members represent that of Revscene.net