US factory orders rise 17 per cent after 2 months of declines

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by Martin Crutsinger, The Associated Press Posted Nov 4, 2013 8:23 am MDT US factory orders rise 1.7 per cent after 2 months of declines on greater demand for airplanes WASHINGTON – Orders to U.S. factories rose in September after two months of declines on a big jump in demand for commercial aircraft. But businesses cut back sharply on orders for machinery and other goods that signal their confidence to expand, signs of slower economic growth.The Commerce Department said Monday that factory orders increased 1.7 per cent in September from August. That followed a 0.1 per cent decline in August and a 2.8 per cent plunge in July.The September gain was driven by a 57.7 per cent jump in demand for aircraft.But so-called core capital goods, which include machinery and electronics, fell 1.3 per cent in September. It was dragged lower by a 23.6 per cent drop in machinery demand, with big declines in construction machinery, electric turbines and generators.Economists pay closer attention to core capital goods because they exclude more volatile orders for defence and aircraft and are a better gauge of businesses’ plans to invest. The decline was the second in three months and points to weaker activity at factories in the July-September quarter.Orders for durable goods, items expected to last at least three years, increased 3.8 per cent in September, largely on the airplane gains. The big rise in demand for aircraft helped offset a 0.7 per cent dip in demand for autos and auto parts. That decline is expected to be temporary given the strength in auto sales this year.Demand for non-durable goods, such as chemicals, paper and food, edged down 0.2 per cent.Many analysts forecast weaker economic growth in the second half of the year. They are predicting growth at an annual rate of around 1.8 per cent in the July-September quarter and roughly 2 per cent in the October-December quarter. Both rates would be lower than the 2.5 per cent growth pace in the April-June quarter.Still, recent manufacturing reports have been mixed.A closely watched survey of U.S. purchasing managers said manufacturing expanded in October fastest pace in 2 1/2 years. The Institute for Supply Management’s manufacturing survey increased for the fifth straight month, suggesting the 16-day partial shutdown of the government had little effect on manufacturers. Gains appeared to be driven by overseas growth, healthy U.S. auto sales and the housing recovery.The government combined the release of the September and August reports on factory orders. The August report had been delayed by the 16-day partial government shutdown read more

Eurozone economic recovery slows in Q3 with quarterly growth of just 01

Eurozone economic recovery slows in Q3 with quarterly growth of just 0.1 per cent LONDON – Three months after it emerged from recession, the 17-country eurozone economy is scarcely growing.The currency union’s economy expanded just 0.1 per cent in the July-September quarter compared with the previous three-month period, the EU statistics agency, Eurostat, said Thursday. That was in line with market expectations but below the previous quarter’s 0.3 per cent increase.The figure highlights the bloc’s struggles to regain economic health despite signs of life in the rest of the global economy, notably in the United States. European government debt, despite years of government cutbacks and tax increases, remains high, unemployment is at a record, and consumers are hesitant to spend.As a result, few economists think the recovery in the eurozone can pick up a head of steam and become self-sustaining in the way it has in the U.S. In the third quarter, the U.S. grew at an annualized rate of 2.8 per cent, compared with the eurozone’s annualized rate of about 0.4 per cent.“The drop in the eurozone growth rate does not mean that the eurozone is heading back into recession but it highlights that the recovery is fragile and, as yet, too slow to lead to a significant fall in unemployment,” said Marie Diron, senior economic adviser to EY, formerly known as Ernst & Young.The weak economic backdrop is one reason why the European Central Bank cut its main interest rate last week to a record-low 0.25 per cent. The other being low inflation. In the year to October, consumer prices were up only 0.7 per cent, way down on the ECB’s mandate of keeping inflation just below 2 per cent.Though details were not provided for individual sectors, Thursday’s figures show the recovery slowed in the core economies, such as Germany and France, with mild improvements in countries in the so-called periphery, notably in Spain, which saw its nearly two-year recession end.Germany’s economic growth slowed to a quarterly rate of 0.3 per cent from 0.7 per cent in the previous three-month period as exports dragged. For an economy that relies heavily on its high-value exporters, such as big car manufacturers like BMW and Daimler, that’s a sign of weak demand among its neighbours and possibly an indication that the recent high value of the euro has taken its toll.In France, the situation was even more downbeat, with Europe’s second-largest economy posting a quarterly contraction of 0.1 per cent. It’s not in recession, though, as it grew by 0.5 per cent in the previous quarter — a recession is traditionally defined as two consecutive quarters of negative economic growth.Looking ahead, most economists predict the eurozone will continue to grow, albeit at a sub-par rate. Many of the factors that have hobbled growth, notably the easing in the tensions in the financial markets, will help shore up economies.“The region is on course to expand at a slightly stronger, though still modest, pace in the fourth quarter,” said Chris Williamson, chief economist at financial information company Markit. by Pan Pylas, The Associated Press Posted Nov 14, 2013 3:04 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more

New report says Calgarians give B grade for quality of life

New report says Calgarians give “B grade” for quality of life by Dave Will Posted Oct 4, 2016 12:05 pm MDT Last Updated Oct 4, 2016 at 1:10 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email The Calgary Foundation We like our city.The latest annual Calgary Foundation report, called Vital Signs, confirms we’re content with our quality of life here.The survey asks Calgarians to grade categories such as community connections, living standards, arts and the environment. The B grade for 2016 is consistent with last year’s rating and this comes despite significant challenges we are currently facing.“We were bracing ourselves at the Foundation for a lower grade,” Taylor Barrie with the Calgary Foundation explained. “We were pleasantly surprised that it did stay the same as last year. I think it fundamentally comes down to us being an optimistic city and we’re a positive city. That’s really why we dug into a sense of belonging this year, because we know when we feel we belong, we can navigate these challenging times better.”The only category to drop is the environment, which received a C+ this year versus a B- in 2015.Read the full Vital Signs report: http://calgary-foundation.s3.amazonaws.com/mercury_assets/1588/original.pdf?1475526830 Calgary|The Calgary Foundation|vital signs|YYC read more