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Toronto housing prices fell at the fastest pace since September 1996. The price index in Canada for new buildings in Toronto declined in annual terms by 1.4%, while the indicator in all the provinces and territories of Canada increased by only 0.1%, which is the lowest rate since 2010. The fall in the rate of construction of new buildings in the Greater Toronto area in a year to October of this year was 40.3%. Experts say that the main reason for the fall in the real estate market is the tightening of mortgage lending rules by the Canadian government, because before they were introduced at the end of last year, the annual rise in prices for new houses was about 4%. In addition, the Bank of Canada has raised the rate 5 times since July 2017.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
Australia had seen its employment rate dropping 1.1% between mid-June and mid-July, weekly data showed on Tuesday. In addition to this, the southeastern state of Victoria recorded the sharpest plunge in employment as the state suffers from ...
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