
Charting the Global Economy: US Labor Market Picks Up Steam
The US labor market strengthened in November with pickups in employment and wages, deflating hopes the Federal Reserve will cut interest rates early next year.
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The US labor market strengthened in November with pickups in employment and wages, deflating hopes the Federal Reserve will cut interest rates early next year.
China’s consumer prices fell at the steepest pace in three years while producer costs dropped even further into negative territory, underscoring the challenges facing the economic recovery.
Signa Development Selection AG, one of the major units of the retail and real estate empire founded by Rene Benko, is facing insolvency as a result of a cash crunch within the division.
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Some mortgage holders have begun to pare down their spending amid higher borrowing costs, according to a new report from TD, particularly those who renewed their mortgages more recently.
Dec 1, 2021
BNN Bloomberg
,The flurry of buying activity in Calgary’s housing market continued in November.
The latest data from the Calgary Real Estate Board (CREB) show sales in the month hit 2,110 – a 46.8 per cent jump compared to last year, and nearly breaking the November record set in 2005. Sequentially, it was a slight deceleration from October, when a record for the month was set at 2,186 homes traded hands.
All property segments posted double-digit sales increases last month.
“Lending rates are expected to increase next year, which has created a sense of urgency among purchasers who want to get into the housing market before rates rise,” said Ann-Marie Lurie, CREB’s chief economist, in a press release Wednesday.
New listings in November struggled to keep pace, rising only 15.2 per cent.
CREB noted that it’s typical to see a slowdown in new listings and inventory levels during the colder months, but home sales have hovered around the same level since August.
Strong demand and limited supply pushed the benchmark price of a property up to $461,000 in November, or nearly nine per cent higher compared to a year earlier.