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  • 2016-02-05 17:31


    OTTAWA (MNI) - Following is the text of a press release published by Canada Mortgage and Housing Corporation (CMHC), which released the January Housing Starts initially scheduled for Monday:

    Canadian Housing Starts Trend Lower in January

    The trend measure of housing starts in Canada was 199,169 units in January compared to 203,304 in December, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

    "Housing starts trended down across the country with the exception of Ontario," said Bob Dugan, CMHC Chief Economist. "The overall decline is mostly attributable to a slowdown in the Prairies where the housing starts trend was at a 4-year low in January.

  • 2016-02-05 15:35


    WASHINGTON (MNI) - President Barack Obama Friday said his $10-a-barrel oil tax proposal that House Republicans have already said is dead on arrival is a good idea now, when gasoline prices are low, and would be a good idea for the future, when oil prices go back up.

    In a TV appearance mainly intended to hail the new 4.9% unemployment rate as another sign the U.S. economy is doing a lot better than Republican candidates say it is, Obama was asked about his oil tax.

    "Right now, gas is $1.80," he said, "and gas prices are expected to be low for a while, for the foreseeable future."

    He continued, "That overall can be a good thing for the economy.

  • 2016-02-05 15:10


    FRANKFURT (MNI) - The following is the text of the decision by the ECB and the national central banks (NCBs) of the Eurosystem to publish data on aggregate net financial assets (ANFA), released late Friday:

    The European Central Bank (ECB) publishes the Eurosystem's aggregate net financial assets and explains the Agreement on Net Financial Assets (ANFA).

    ANFA is an agreement between the national central banks (NCBs) of the euro area and the ECB. It sets rules and limits for non-monetary policy holdings that are related to national tasks of the NCBs.

    The ECB publishes the Eurosystem's aggregate net financial assets, and the NCBs will publish their respective net financial assets on an annual basis (at the time of publication of the annual financial accounts).

  • 2016-02-05 12:15


    --Retransmitting 14:57 ET Thursday Sty; Cuts Reference to March Multifactor Rpt
    --Inflation Adjusted Compensation Up Most Since 2000

    WASHINGTON (MNI) - The low level of U.S. productivity growth for the past five years is a threat to future prosperity, experts agree, and Thursday's report on last year's performance seemed to be more of the same - yet not without some silver linings.

    "It's hard to make a negative 3 sound good," John Glaser, chief of the BLS major sector labor productivity growth branch, told MNI. But, he added, "The underlying theme here for the last five years is that hours keep increasing. You just need more output growth."

    The U.S.

  • 2016-02-05 12:08


    --Updating 9:31 ET Story; Reaction
    --Jan Payrolls +151,000; Unemp 4.920%, Lowest Since Nov 2007
    --Manufacturing Shows a Rare Pop on Non-Durables

    WASHINGTON (MNI) - The January jobs report delivered all the weakishness that Fedwatchers expected and then some, but under the surface the month's losses were unusually concentrated in two peripheral categories.

    January payrolls came in at 151,000, the Bureau of Labor Statistics reported Friday, the least since September.

    Yet the unemployment rate came down to 4.9%, the lowest since November 2007's 4.7% before the financial crisis and matching February 2008.

    The slightly elevated initial claims data lately and the latest Challenger tally of layoff intentions, the most since 2009, had prompted forecasters t

  • 2016-02-05 11:35


    By Martin Baccardax

    LONDON (MNI) - European investors will get their first look at the region's full-year economic performance next week amid concerns for the global recovery and increasingly gloomy prospects for inflation.

    Eurostat's flash estimate of fourth quarter Eurozone GDP Friday (11:00 CET) highlights a light calendar of economic data but nonetheless benchmarks the pace of the region's recovery and the different contributions from core and peripheral member states.

    Last week, the European Commission trimmed 0.1 percentage points from its projections for currency area growth this year, while keeping its 2017 forecasts broadly unchanged.

  • 2016-02-05 11:33


    --House Budget Panels Won't Even Listen To OMB Chief
    --House Speaker Shows Scant Interest in Final Obama Budget
    --CBO Chief Hall Details Fiscal Outlook To Hill Panel

    WASHINGTON (MNI) - Congressional Republicans signaled this week they have so little interest in President Barack Obama's final budget they don't even want to take the time to ridicule it.

    The president will release his final budget on Tuesday, but Republicans spent this week saying, in effect, they don't even care what's in his fiscal plan.

    In two briefings and in a major speech at the Heritage Foundation, House Speaker Paul Ryan said House Republicans are already working hard on their own budget.

    "We're not going to wait for the president," Ryan said at a briefing.

    He repeated tha

  • 2016-02-05 11:11


    By Yali N'Diaye

    OTTAWA (MNI) - The Canadian Ivey Purchasing Managers Index soared to 66.0 in January from 49.9 in December, reaching its highest level in nearly four years, the Richard Ivey School of Business reported Friday.

    The 16.1-point gain was the largest such increase since February 2011, when the index rose 24.0 points.

    With January advance, which brought the index to its highest level since February 2012, the index moved back above the 50.0 mark to indicate stronger economic activity in Canada.

    The increase was in line with a 9.7-point gain in the price index to 71.6, to which the overall index is sensitive since survey participants' answers are based on dollar amounts of sales rather than volumes.

    Looking at other indices, however, employment fell t

  • 2016-02-05 10:13


    WASHINGTON (MNI) - Council of Economic Advisers Chair Jason Furman issued the following statement Friday following the release of the January jobs report which showed the economy had added 151,000 jobs last month:

    "Summary: In January, the unemployment rate fell below 5 percent for the first time in eight years as the longest streak of private-sector job growth on record continued.

    The unemployment rate reached 4.9 percent in January for the first time since February 2008, and the labor force participation rate has been essentially stable over the past year. Just two years ago, many economists expected the unemployment rate to remain above this level until 2020.

  • 2016-02-05 09:31


    --Jan Payrolls +151,000; Unemp 4.920%, Lowest Since 2007
    --Manufacturing Shows a Rare Pop on Non-Durables
    --Couriers and Private Education Alone Cut 53,000 Jobs

    WASHINGTON (MNI) - The January jobs report delivered all the weakishness that Fedwatchers expected and then some, but under the surface the month's losses were unusually concentrated in two peripheral categories.

    January payrolls came in at 151,000, the Bureau of Labor Statistics reported Friday, the least since September.

    Yet the unemployment rate came down to 4.9%, the lowest since November 2007 before the financial crisis.

    The slightly elevated initial claims data lately and the latest Challenger tally of layoff intentions, the most since 2009, had prompted forecasters to trim their payro