Jan. 11, 2019

CANADA

  • National Bank Financial Chief Economist and Strategist, Stéfane Marion, spoke at the Canadian Economic Club on January 9, 2019. Click here for the full report.
    • Over the past decade workers aged 55+ have hit a record 22% (US 24%) of employment vs 16%.
    • GTA is on the verge of becoming the 2nd largest tech talent pool in North America.
    • Innovation sector has a job creation multiplier effect 3x greater than manufacturing.
    • 70% of Canada’s population growth is from immigration.
      • Over 60% of immigrants aged 15-64 have post-secondary education.
    • Record 83% of prime-aged (25-54) Canadians are employed.
    • Largest 5 metro areas account for 46.2% of Canada’s national economic output.
      • Toronto 18.6%
      • Montreal 10.2%
      • Vancouver 6.7%
      • Calgary 5.7%
      • Edmonton 5.5%
    • Bank of Canada held interest rates steady at 1.75% as expected.
      • 2019 GDP forecast lowered to 1.7% from 2.1% (2018 lowered to 2% from 2.1%).
      • 2020 GDP forecast 2.1%.
      • Consumer spending and housing investment have been weaker than expected.

ENERGY

  • US oil production is projected to hit 12 million boe/d vs 9.35 million in 2017. Only 1 facility (Louisiana Offshore) can load supertankers capable of carrying 2 million barrels.
  • A deepwater port near Corpus Christi is expected to ship 2.1 million boe/d through pipelines set to open this year.
  • Capital Power’s 99 megawatt New Frontier Wind project in North Dakota began commercial operation on December 21, 2018 on time, underbudget, with a 12 year fixed-price contract.
  • Volkswagon and China are spearheading a new $300 billion surge in spending on electric vehicle technology over the next 5-10 years with nearly 50% of the money targeted at China.
  • Volkswagon is setting up a network of stations in China for a 15 minute charge which would cover 400 kms.
  • China is targeting sales of 2,000,000 new-energy vehicles in 2020 vs approximately 400,000 in 2018.

TIDBITS

  • Legal cannabis costs an average of $9.70/gram vs black market at $6.51/gram.
  • Blackberry unveiled its “Blackberry Secure”, the latest in privacy and security tools. G7 governments are using Blackberry technology which has received accreditation from the US National Security Agency.
  • Excessive use of social media leads to the same type of poor decision making exhibited by drug addicts.
  • 25% of the global population will suffer a stroke at sometime in their life.
    • China’s lifetime stroke rate for 25 year olds is 39%, the highest in the world.
    • Stroke accounted for 10% of deaths globally in 2016.