Statistics Canada stated (29-Oct-2010) real gross domestic product increased by 0.3% in Aug-2010 following a 0.1% decline in Jul-2010. Oil and gas extraction, wholesale trade and manufacturing were the main sources of growth while increases were also recorded in the finance and insurance sector, by real estate agents and brokers, in construction and retail trade. Utilities and forestry decreased while public sector output was unchanged. A separate Statistics Canada report stated (29-Oct-2010) the Industrial Product Price Index (IPPI) increased 0.2% in Sep-2010 on a month-on-month basis, led mainly by primary metal products. The Raw Materials Price Index declined 0.4% in Sep-2010.
Canada GDP increases in Aug-2010 following decline in Jul-2010
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China-US air growth slows as Xiamen Airlines flies Fuzhou-New York, making the world a smaller place
The world becomes a smaller place on 15-Feb-2017 with the launch of Xiamen Airlines' Fuzhou-New York JFK service. The route is a not a headline grabber like the ultra long hauls of Singapore-San Francisco or Doha-Auckland. But linking the two cities brings a nonstop flight to what is, by some calculations, the largest unserved trans-Pacific market.
The new flight reflects on current themes in the market between Asia and North America: the growth from China's secondary cities, more Chinese airlines being catapulted onto the world stage, and impacts to one stop competitors.
Fuzhou-New York will initially be only flown three times a week, supporting competitors' retorts that they have a frequency advantage – or at least for now. Competitors have also claimed a better product, but Xiamen's 787-9 is China's fifth widebody to offer direct aisle access business class. Soft service is catching up, and likewise for commercial planning: Xiamen's 787-9s do away with first class. This report looks at the growth of China and the rest of Asia to North America as growth momentum slows with China's bilateral capacity being reached.
CAPA airline profit outlook: 2016 was top of cycle, but margins to stay above past cyclical peaks
The CAPA world airline industry operating margin model forecasts that margins will fall from 2016 to 2018, suggesting that the estimate of 8.3% in 2016 may have been a cyclical peak. This six monthly update of CAPA's world airline profit outlook, which adds 2018 to the model for the first time, attributes the expected declining margin trend to increases in oil prices and in the rate of fleet growth.
Moreover, although global economic growth is forecast by the IMF to pick up in each year from 2016 to 2018, there are many uncertainties surrounding the world economy. The IMF's Jan-2017 outlook warns that risks to global growth are skewed to the downside.
However, previous cyclical peak margins did not exceed 6%, and the CAPA model forecasts that the industry's operating margin will remain higher than this throughout the forecast period, provided that the downside risks to the global economy do not materialise. Putting the forecast into a historical context – the world's airline industry is set to remain in a period of unprecedentedly high profitability, at least until 2018.