U.S. grows as Canada slows - MoneySense

U.S. grows as Canada slows

Low-spending businesses and rising debt appears to be holding Canada back.

  • The cover story from Maclean’s April issue is now available online. Part one explores the U.S economic recovery, including a burgeoning housing market and new jobs. The second part takes a broad look at Canada’s economy, which is stuck in comparison due to stalled growth, low-spending businesses and rising debt. In a related note, a study released by Desjardins on Wednesday reveals January was the weakest month for Canadian growth in terms of consumer credit since 2001, and that mortgage credit will continue to be affected by the real estate market slowdown.
  • BMO announced Wednesday that more and more Canadians—almost half the population—are doing their taxes themselves. However, many Canadians are still unfamiliar with the tax implications of RRSPs, charitable donations, capital gains and dividend income, the bank reports. DIY tax filers can find help at our online Tax Centre.
  • Brandes is now accepting applications to its 2013 Brandes Scholarship Program. Scholarships of $1,000 will be awarded to 10 Canadian students who demonstrate insight into financial literacy via an online quiz, as well as an essay based on what the quiz teaches them.