I was researching information and found the following quite informative:
The Canadian manufacturing sector is straddling the gulf between a reasonably robust domestic economy and the pronounced deceleration in global economic activity. We expect the latter influence will play a larger role in the coming months, starting with a forecasted 0.9% decline shipments in June. Both hours worked and employment in the manufacturing sector declined in June, which augurs for a slowdown in shipments. The weakness is expected to be shared by both the durables and non-durables sector. In particular, weaker automotive trade is forecast to have weighed on the transport sector while lower energy prices will hamper manufacturing activity in the energy complex. By contrast, shipments of machinery and equipment are expected to remain on an upwards trajectory, thereby preventing a more outsized decline in the headline. The silver lining of the release is that industrial prices were generally weaker during June, which will dull the impact that the decline in nominal shipments will have on both real manufacturing shipments and real monthly GDP growth.
After the modest retreat in Canadian consumer prices in June, the introduction of the Harmonized Sales Tax (HST) in Ontario and British Columbia will provide a sizable jolt to Canadian inflation in July. During the month, we expect headline CPI to rise by 0.5% M/M, both on a seasonally and non-seasonally adjusted basis. This would represent the largest monthly increase since November of last year and is expected to be broadly based across a wide range of components (including those goods and services now subject to the HST). Higher energy and food prices should also contribute to the uptick in prices. On an annual basis, headline inflation is expected to accelerate to 1.8% Y/Y from 1.0% Y/Y in July, though 0.4 to 0.6 percentage points of this increase can be traced to the HST and will fall out of the data next July. By design, the Bank of Canada’s core inflation measure should be unaffected by the introduction of the HST and it is expected to rise by a slightly more modest 0.1% M/M, with the seasonally-adjusted indicator gaining 0.2% M/M. Annual core inflation should also accelerate on the month, rising by 1.8% Y/Y, up marginally from 1.7% Y/Y previously. In the coming months, we expect core inflation to remain relatively elevated for this stage of the business cycle, though it will likely continue to remain below the Bank of Canada’s 2% target.
In an nutshell do not go by what the media is saying. The real estate market is still good and if interested in seeing what you can buy and what you can sell then feel free to call me or contact me to discuss.
As well with great mortgage options there has never been a better time to buy or refinance then now.