Balancing on a Barrel: Canada’s Second-Quarter Current Account

In the second quarter of 2008, record oil prices outweighed the continuing manufacturing crisis, the worst services deficit ever recorded, and widening deficits in investment income and current transfers. The Surplus in Perspective The rise of Canada’s current-account surplus to $6.8 billion in the second quarter is positive news for the Canadian economy.  However, this surplus is still less than last year’s […]

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Investment in manufacturing vs oil sands

 A fascinating tidbit from today’s Statistics Canada release on human activity and the environment (climate change): In 2008, oilsands producers intend to invest $19.7 billion, up 23% after a 31% hike in 2007. This exceeds the total investment plans of $19.6 billion by all manufacturing industries [Chart 1.6 on page 25]. Oilsands investment has surpassed manufacturing because of its rapid […]

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