Global auto sales improve modestly again in October, report says
On a year-over-year basis, sales were in positive territory for a second consecutive month since the pandemic struck, Scotiabank’s latest Global Auto Report says.
Two-thirds of Canadian business owners negatively impacted by COVID-19: CIBC poll
But the majority (75%) of business owners remain optimistic they will rebound once the pandemic subsides, the poll also found.
Manufacturing sales up 1.5 per cent in September, StatCan says
As part of this increase, the chemical industry rose 6.7 per cent to $4.5 billion, the agency said.
Canadian government extending funding for innovation assistance program into December
The program an emergency wage subsidy provided to eligible small and medium-sized firms on a priority basis.
Demand from packaging and healthcare segments to help polyolefins market stay afloat amid COVID-19, report says
The global polyolefins market is expected to decline in 2020 due to weaker end-market demand, analytics firm GlobalData says, but there will be strong gains in these other sectors.
CME, Ontario launch online consumer directory of made-in-Ontario products
The guide is designed to make it easier for shoppers to find made-in-Ontario products, while supporting local businesses and manufacturers.
Nearly half of Canadians considering leaving their current job, report says
The annual Hays Salary Guide shows employer optimism is countered by employee isolation, loneliness, and a decline in well-being.
U.S. economy posts record third-quarter GDP rebound
GDP increased by an annualized rate of 33.1 per cent during the third quarter, the U.S. Commerce Department reported, compared to the second quarter’s annualized rate of 31.4 per cent contraction.
U.S. plastics industry reports another year of trade surplus
Mexico and Canada remain the U.S. plastics industry’s largest export markets, the new report from the Plastics Industry Association says.
Both Biden and Trump victories present implications for Canada’s economy, new report says
The report from RSM Canada concludes that no matter the outcome of the U.S. presidential election, Canada’s recovery from wave two of the coronavirus pandemic and its longer-term outlook will be impacted.
What will the 2020 elections mean for U.S. energy?
Ten key issues to watch, according to global energy consultancy group Wood Mackenzie.
Canadian small business owners cautiously optimistic about the future, Scotiabank report says
Forty per cent of small business owners are either “very” or “extremely” optimistic about the future of their business, Scotiabank said.
Plastics industry 8th largest in U.S., new report says
The plastics industry is a key part of the American economy, the report from Plastics Industry Association said, accounting for an estimated $432 billion in shipments and over a million workers in 2019.
Fewer business closures, more openings in June compared with May: StatCan
The trend in June held true in every province and territory except Quebec, which had a two per cent increase in business closures compared with the previous month.
Retail sales rose 0.6% in July, Statistics Canada says
Sales were up in six of 11 subsectors in July with the motor vehicle and parts dealers subsector contributing the most to the increase.
Ontario announces $37 million for training in advanced manufacturing, other industries
The funding will support 86 projects and provide training in high-demand skills to more than 15,000 people.
Ford preparing to cut 1,000 salaried jobs in North America, report says
The job cuts are aimed at improving the automaker’s efficiency and are not related to rising costs from the COVID-19 pandemic, the news report from Bloomberg said.
North American plastics machinery shipments up in Q2, report says
The preliminary estimate of shipments value from reporting companies totaled a 4% increase over the first quarter of 2020, the Plastics Industry Association says, when shipments decreased 19.8% from the previous quarter.
Ontario investing $9.3M in automotive and advanced manufacturing skills training
The innovative projects will train and re-train thousands for in-demand jobs.
Canadian economy posted record drop in Q2 due to COVID-19, StatCan says
The decline is the steepest since quarterly data were first recorded in 1961, with almost every single component of the economy that works into calculating GDP at its lowest point over April, May, and June.
Big majority of small business owners still worry about economy, survey finds
Also, sixty per cent of respondents to the latest Canadian Federation of Independent Business survey say they fear consumer spending will stay low even after the COVID-19 pandemic ends.
Heavy truck sales in Canada should rebound quickly, report says
The Canadian heavy truck industry has been hit hard by the COVID-19 pandemic, a new report from Scotiabank says, but sales should shift back into positive growth territory in 2021.
Manufacturing sales up 8.7 per cent in July, StatCan says
The preliminary estimate for July compared with a record 20.7 per cent gain seen in June as factories continued to ramp up production.
Ontario opens new O-AMP funding round for auto parts companies
The province is making available $10-million in additional funding for applications for the Ontario Automotive Modernization Program, which provides auto parts companies with funding to invest in new technologies and innovation.
Windsor-Essex moving into Stage 3 of Ontario’s reopening plan on Aug. 12
COVID-19 outbreaks among migrant workers on farms in the region had previously held Windsor-Essex back from Stage 3.
Canadian auto sales posted another rebound in July, Scotiabank says
U.S. auto sales also continued to climb back in July, Scotiabank reported in its latest Auto News Flash.
Small business sales struggle after COVID-19 reopening, CFIB survey says
Only one in four small businesses in Canada are back to making normal sales and only 39% are fully staffed, the CFIB survey shows.
CECRA rent relief program extended another month
To receive the rent assistance, businesses will not have to prove a 70% decline in sales for July or August, but will have to show a 70% revenue shortfall that qualified them for CECRA in April, May, and June.
Ontario regions of Toronto, Peel moving to Stage 3 on July 31
Windsor-Essex region will remain in Stage 2, the Ontario provincial government said.
U.S GDP falls by 9.5 per cent in second quarter
The drop is the largest quarterly drop in recorded history.
Orders for big ticket manufactured goods in U.S. up 7.3% in June
The U.S. Commerce Department said that the June gain in durable goods orders follows an even bigger 15.1% increase in May.
Retail sales bounced back 18% in May, StatCan says
Sales of cars and car parts saw a 66% increase in sales during May, the agency said.