Canada’s has come. GDP is one indicator that

Canada’s current economic health is progressing and the country is
starting to see improvement and are very impressed with how far Canada has come.
 GDP is one indicator that describes the
country economic health. GDP in Canada was worth 1529.76 billion US
dollars in 2016. The GDP value of Canada represents 2.47 percent of the world
economy. Canada has the fourth highest total estimated value of natural
resources, valued at$33.2 trillion in 2016. It has the world’s third largest
proven petroleum reserves and is the fourth largest exporter of petroleum. It
is also the fourth largest exporter of natural gas. Canada is considered an
“energy superpower” due to its abundant natural resources. Gross
Domestic Product of Canada grew 0.4% in the third quarter of 2017 compared to
the previous quarter. The year-on-year change in GDP was 3%, 6 -tenths of one
percent less than the 3.6% recorded in the second quarter of 2017.GDP in the
third quarter of 2017 was $309,878 million, leaving Canada placed 8th in the
ranking of quarterly GDP of the 49 countries. Secondly, imports are another indicator that describes the country economic health.
Imports to Canada advanced
5.8% month-over-month to CAD 48.7 billion in November of 2017 from CAD 46.0
billion in October. It is the strongest increase since July of 2009, boosted by
purchases of electronic and electrical equipment and parts; motor vehicles and
part and aircraft and other transportation equipment and parts. Volumes rose
5.0% and prices 0.7%. In 2016 Canada imported $399B, making it the 9th largest
importer in the world. During the last five years, the imports of Canada have
decreased at an annualized rate of -3.797%, from $422B in 2011 to $399B in
2016. The most recent imports are led by Cars which represent 6.62% of the
total imports of Canada, followed by Vehicle Parts, which account for 5.11%.96%
of petroleum gas is imported from the United States. Its top imports are Cars
($26.4B), Vehicle Parts ($20.4B), Delivery Trucks ($13B), Refined Petroleum
($11.1B) and Crude Petroleum ($10.9B). The top import origins are the United
States ($266B), China ($27.3B), Germany ($10.6B), Mexico ($10.4B) and Japan
($8.16B). This is a huge plus for my company being that cars represent 6.62% of
the total imports. Third, exports in Canada are another indicator that describes
the country’s economic health. Canada is the 12th largest export
economy in the world. In 2016, Canada exported $387B making it the 12th largest
exporter in the world and imported $399B, resulting in a negative trade balance
of $11.3B. In 2016 the GDP of Canada was $1.53T and its GDP per capita was
$44k. The most recent exports are led by Cars which represent 12.6% of the
total exports of Canada, followed by Crude Petroleum, which account for 10.2%.
The top exports of Canada are Cars ($48.8B), Crude Petroleum ($39.5B),
Unspecified ($20.2B), Gold ($12.5B) and Vehicle Parts ($10.6B). The top export
destinations of Canada are the United States ($296B), China ($15.8B), the
United Kingdom ($12.9B), Japan ($8.09B) and Mexico ($5.76B). 99.7% of petroleum
gas is exported to the US. Lastly, consumer confidence is the final indicator that
describes Canada’s economic health. Consumer Confidence in Canada increased to
55.12 in January from 54.50 in December of 2017. Consumer Confidence in Canada
averaged 53.24 from 2010 until 2018. Overall
consumer confidence declined in all regions of the country except for a small
increase in the Atlantic region. When asked about job prospects over the next 6
months, consumer confidence points to a near-record sense of stability. The
number of respondents expecting a decline continues generally trending lower
compared to the past two years while the level of those expecting an
improvement is almost at an eight-year high. A near-record proportion of
consumers expect that their household budget will remain stable over the next
six months, while uncertainty about its outlook has trended to new record lows.
Those expecting deterioration are on the decline, as the number of respondents
expecting better conditions has trended slightly upward. Confidence about
making major purchases, like a home or a car, increased in British Columbia and
Quebec, but declined in all other regions in the country. There was a decrease
in the percentage of consumers that were positive about whether it was a good
time to make a major purchase, as the percentage of those who did not think it
was a good time to do so moved upward.

 

 

Canada is in the expansion phase of the
business cycle. The business cycles in Canada from 1982 to 2017 were periods of
growth followed by periods of decline and several peaks and troughs. Canada’s
economy may be entering a “sweet part” of the business cycle where it can run
at a faster pace without triggering inflation pressure, Governor Stephen Poloz
said. There are signs investment could become a more important part of the
growth story. Such spending not only fuels the expansion, but at the same time
grows the economy’s production capacity and potentially helps to mitigate
inflation. Canada has seen an increase in investment and hiring intentions
which is positive for productivity. Growth is allowing many Canadians to find
work in their fields, opening other positions and boosting productivity.

 

 

The
unemployment rate measures the portion of people in the labor force who are of
working age and who are available for and looking for work, but who are not
employed.
Canada
calculates the unemployment rate for people 15 and older. The jobless rate fell to 5.7
percent in December, Statistics Canada said Friday in Ottawa, the lowest in the
current data series that begins in 1976. The
unemployment rate in Canada fell to 5.7 percent in December of 2017 from 5.9
percent in November and well below market consensus of 6 percent There were
more people working in the services-producing sector, led by finance,
insurance, real estate, rental and leasing. Employment also increased in
educational services, transportation and warehousing, natural resources, and
construction while manufacturing cut jobs. This is one economic indicator that
I would like to monitor closely so that as we expand, we can provide many jobs
as possible. To
decrease the unemployment rate, my company plans to provide more job
opportunities by opening convenience store locations starting at ages 16 and up
so that everyone can have a chance to make some money. Whether it’s working in
the stores, on gas pumps, transporting fuel, operations, etc., we want to
provide as many jobs as possible throughout Canada.  Personal savings has become a
challenging indicator for Canadians as the economy continues to grow and our
company would like to continue to monitor closely so that when it comes to
determining pay, we want to make sure we pay enough money to our employees so
that they can pay their bills as well as save for their future. Household Saving Rate in Canada decreased
to 2.60 %in the third quarter of 2017 from 4.60 % in the second quarter of
2017. Some Canadians say that can’t save because cost of living is doubled.
Over 65 % of respondents said they use some if it for bills and to pay down
debt, or for indulgences. 44% said part of it goes to short-term savings for
things such as vacations, a new vehicle or a home renovation. And only 41% said
they channel at least some of the funds toward long-term savings such as
retirement, an emergency fund or their children’s education. Per an online
survey conducted between Oct. 20 and Oct. 21, 2017. Over 65% of respondents
said they use their income for bills and to pay down debt, or for indulgences.
44% said part of it goes to short-term savings for things such as vacations, a
new vehicle or a home renovation. And only 41% said they channel at least some
of the funds toward long-term savings such as retirement, an emergency fund or
their children’s education. 65.2% of Canadian households saving every year
means almost 35% aren’t saving, either because they are heavily indebted or
earn too little. Lastly, consumer prices would be the final indicator we will
monitor so that we don’t overprice our products.  Consumer prices in Canada increased 2.1 percent
year-on-year in November of 2017, following a 1.4 percent gain in the previous
month and above market expectations of 2.0 percent. It is the highest rate
since January of 2017, as prices advanced at a faster pace for gasoline and
food. We would like to continue to keep the inflation rate around the 2 % range
because per The Federal Open Market Committee (FOMC) judges that inflation at the rate of 2 % is most consistent over
the longer run with the Federal Reserve’s mandate for price stability