The bad news for people with mortgages and lines of credit is that the Bank of Canada hiked its interest rate to one per cent last week, its second one-quarter point increase since July.
The good news is that the rate increase is due to an expanding economy, one that grew by 4.5 per cent in the second quarter of the year, according to Statistics Canada.
Debt load on Canadians and uncertainty in the world could quickly change that, but for now, the Canadian economy is a rosy picture, with healthy increases in household spending, business investment and exports.
At least, that’s what the suits are telling us, but how about out on the street? Are Canadians seeing any benefits of a rapidly-improving economy?
This year may be a bad one in the golf industry to be looking for signs of an improving overall economy, given the inclement weather in many regions of the country, but there would be some indications, perhaps not in rounds played, but certainly in pro shop or food and beverage sales.
We’d like to hear from you as it applies to the golf business you operate or provides employment. Are there any indications that the economy is catching fire?
That’s our question in this week’s GNN Poll.
You can answer below or on the GNN home page and please feel free to add any additional thoughts on this subject in the Comments section below.
Are you seeing any signs of a growing economy at the golf business where you work?
- NO (73%)
- YES (27%)