Statistics Canada says the economy grew by 0.3 per cent in November, following a 0.1 per cent rise in October.
The November number for real gross domestic product is better than the 0.2 per cent analysts were predicting.
Most major industrial sectors increased production in November, with goods production up 0.6 per cent. Service industries were up just 0.1 per cent.
The statistics agency says manufacturing and mining, quarrying and oil and gas extraction were the main contributors to the November increase.
Wholesale and retail trade, utilities as well as transportation and warehousing services also rose, while construction and the public sector were unchanged.
Accommodation and food services and the finance and insurance sector shrank.
Besides having a lot of unemployed people, there are other problems with having a 20% drop in manufacturing activity in Ontario (see oldest post below). Another problem is surplus electricity:
Today’s Toronto Star: headline : “More Power Surpluses Coming in Ontario” “….That means an increasing likelihood of wholesale energy prices falling to, or below zero – which can result in big electricity users getting paid to use power.”
Ontario had built a lot of massively expensive, “green” electricity generation capacity that is completely unnecessary. The industries that used to use a lot of electricity have shut down. The Province is paying large users to take that surplus electricity away so that the extra power will not unbalance the electrical system. Meanwhile ordinary consumers are paying in excess of 16 cents per kilowatt hour in Toronto (much higher than in past years).
http://www.citynews.ca/2013/01/31/residents-still-out-of-their-homes-after-yonge-st-highrise-fire/
Before you find the comment is THAT article .. it’s ALSO a sarcastic post.
Whoosh, much?
It’s *gotta* be Rob Ford’s doing.
He’s behind all of this, I’m almost certainly beyond a shadow of a doubt positive. Sorta.
Strange that Rob Ford would cause Ontario’s manufacturing to drop, since he’s only the mayor of Toronto. Also strange that he would cause the drop over the last five years (and more), since he’s only been the mayor for two years. And even stranger that he would cause both 1. exports to drop as well as 2. imports from China and Mexico to increase. How does he do that?
Are you really that thick, knotme?
The post was SARCASM.
Ever heard of it?
It’s a comment on how *seemingly*, according to the Ford haters, EVERYTHING is Rob Ford’s fault.
Are you REALLY that incapable of reading sarcasm into that post? It was fairly evident that it was tongue-in-cheek.
Wow, man.
Just wow.
Seriously.
I was hoping that the answer to the question: “How does he do that?” would be: “He had an awful lot of help”. (But no, just a lot of red herrings to distract attention from the economy’s disappearing act.).
I looked at Statistics Canada for the details. It looks like I have been exaggerating in my previous posts about manufacturing disappearing in Ontario. Ontario’s manufacturing activity is only down about 20% from the level of five years ago. I can’t find statistics for the City of Toronto manufacturing activity. I would think that the drop in manufacturing for Toronto would be higher than 20%, just based on the amount of land that used to be devoted to industry, but is now occupied by housing or by shopping malls.