THE DAVISVILLE & LEASIDE INSIDER

THE DAVISVILLE & LEASIDE INSIDER

Monday, July 12, 2010

Canada rate hikes seen after stunning job gain...

(Reuters) - Canada's economy created six times more jobs than forecast in June, a near-record gain that pressures the central bank to raise interest rates again this month even as cracks in the U.S. recovery threaten to cool the country's scorching growth.

The staggering employment gain contradicts a recent string of weaker data, including another report on Friday showing housing starts fell in June.

The decline in starts is further evidence that the housing market, which helped drive the recovery but was also feared to be overheating, will slow in the second half.

Source: Reuters
Sat Jul 10, 2010 12:44am IST
By Louise Egan


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