Ontario Oakville.ca

With recent earnings out by some of Canada’s big banks, the tone is still positive as earnings increase.
The Canadian economy is expected to continue on a relatively moderate path to recovery. With high oil prices being here to stay for awhile, worldwide economic growth is being dampened somewhat. However, Canadian growth targets were nudged upward to 2.8% because of the resource heavy sectors. This is being tempered by the strong Canadian dollar, so growth outlook will depend on commodity prices as well as the Canadian vs. U.S. dollar rate.

Businesses are investing again and taking out loans and this element of the economy is outweighing the slightly softer loan demand by consumers for both retail purchases and housing.

As shown in a recent CIBC outlook report: “The absence of core inflation risks and the Canadian dollar strength should keep interest rates rising only gradually over the remainder of the year, leading to a moderation in growth in consumer and housing demand. ”

It seems the Canada has passed the global economic crisis test with flying colours and continues to show a strong and growing economy despite the strong Canadian dollar. The housing market is also robust considering the not-so-lucky neighbor to the South.

Oakville Ontario is a beautiful suburb of Toronto located in the Greater Toronto Area and home to over 170,000 residents.