Non-mortgage debt: Canadian households are more cautious

The average Canadian household debt fell 2 percent between the last quarter of 2012 and the first three months of 2013 to reach $ 26 935 excluding the mortgage, according to the study by TransUnion MarketTrends.

The total debt still 3.5 percent higher than a year ago, but this quarterly decline is the first since the third quarter of 2011 and the largest since the company began collecting data in 2004.

Although this drop is significant, the vice president of TransUnion MarketTrends, Thomas Higgins, says it's too early to see a trend. He also noted that the decline in 2011 was quickly followed by surges in 2012.

The Bank of Canada has welcomed this global trend towards greater financial frugality among Canadian households, particularly in regard to mortgages, which account for the largest share of the total debt.

However, the bank continues to warn Canadians could be caught short when interest rates begin to rise.

According to Thomas Higgins, a Canadian pay on average $ 1,398 in interest each year on its line of credit, but this amount would increase by $ 350 if interest rates rose by one percentage point, and $ 699 if the increase was two percent.

Because of the extremely low interest rates, delinquency rates remain low for all credit products, said TransUnion MarketTrends.

In terms of consumer debt - which includes credit card debt, lines of credit, installment loans and auto loans - all provinces except British Columbia posted a decline in quarterly the first three months of 2013. In British Columbia, the increase was 3.7 percent.

Copper prices led the United States rampant theft of copper

In the town of Chillicothe, Ohio, a group of thieves sneaked into a muffler shop, in addition to stealing the cash shop, but also took the 130 car catalytic device. Fresno, California, due to underground copper theft is rampant, the local government forced thousands of sealed with concrete covers. Pitcher in Oklahoma City saw off a telephone pole and the thieves stole 3,000 feet of wire, causing the city's power outages.

As the copper, platinum, aluminum and other metals prices at record highs, theft from vehicle catalytic device and from the power transmission line, a tornado alarm, coal mines and foreclosed house to steal copper wire act more and more common. Sometimes they even destroy the walls of residential foreclosure to get one of the copper wire.

Fed Lockhart: Economy still strong support for monetary policy

Fed officials on Monday (31), said the U.S. economy is recovering, but still need strong support for monetary policy.

Atlanta Federal Reserve Federal Reserve Chairman (Dennis Lockhart) that have absolute indications the U.S. economy in 2011 will continue to recover, and the fourth quarter of 2010, the strength of the U.S. economic recovery has continued into 2011.

For the Miami Dade College Lockhart (Miami Dade College) students to do speech. 28th week, the Federal Reserve Open Market Committee (FOMC) interest rate meeting, FOMC's discussion focused on this issue and will continue to promote its summer 2011 purchase of 6,000 million long-term government bonds.

Lockhart will not attend regional Federal Reserve Federal Reserve chairman in 2011 waiting for the election, will participate in the election in 2012, but his comments in 2010, said he supported the Fed's credit purchase policy that QE2. The Fed hopes the U.S. plan to buy their claims of economic growth to achieve a better level of performance, I hope the scheme can reduce the high unemployment rate, to prevent deflation in the U.S. economy.

In the comments, Joe Lockhart are obviously positive and optimistic, although he said there are still some factors that will derail the current U.S. economic recovery. Lockhart said the key point in the current U.S. economic outlook is cautiously optimistic it can be said, to avoid exaggerating the speed of economic recovery.

Late: the main stock index rose slightly

U.S. stocks edged higher late Thursday, the Dow at 12,000 points up and down fluctuations. Mixed earnings, poor economic data, making it difficult to determine the direction of the broader market.
EST at 15:28 on January 27, the Dow Jones industrial average rose 11.50 points to 11,996.94 points, or 0.10%; the Nasdaq composite index rose 18.51 points to 2,758.01 points, or 0.68%; the S & P 500 Index rose 3.26 points to 1,299.89 points, or 0.25%.
Yesterday, the Dow intraday in the last 3 years the first time since breaking the psychological barrier of 12,000 points, but failed to hold the closing point. Since June 19, 2008, after the Dow closed at this point has never been the top.
S & P 500 index briefly broke the 1300 points intraday, the highest rising to 1,300.73 points, down soon. S & P 500 index last closed at 1300 points or more in the August 28, 2008.
Shareholders and investment institutions WeiserMazars senior investment strategist David - Katz (David Katz), said some economic data "extremely contradictory," makes investors confused state of economic recovery, resulting in the major indexes within a narrow range. He said, "The most obvious example of the contradictions is the unemployment rate is at a very high level of data, but data in the real estate market performed well."

The United States in December last year, employment fell in 35 states

U.S. Labor Department reported Tuesday that the United States in December last year, employment in 35 states have reduced the unemployment rate in 20 states has increased, suggesting that the recovery process in the job market is still slow.
The report shows that New York State in December last year, employment fell by 2.28 million, the highest decline in all the states; followed by Minnesota, employment fell by 2.24 million; Florida, third, to reduce the 1.79 million people. The report with the U.S. Department of Labor January 7 employment report released consistent with the latter report showed that employment fell in December last year, 10.3 million people, smaller than economists had expected, but the unemployment rate declined.
The report released today also show that Texas last December, employment increased by 2 million people in the highest rate of increase in the U.S. states; followed by South Carolina, to increase 9,000. Throughout 2010, the U.S. jobs increase by about 1.1 million, the highest since 2006, the highest rate of increase. That began in December 2007, and finally in June 2009 the most recent period of economic recession, the U.S. job losses 840 million.
View from the unemployment rate, unemployment rate in West Virginia highest increases for an increase of 0.3 percentage points, respectively followed by Colorado, Georgia and Nevada, the increase is 0.2 percentage points. Across the United States, the highest unemployment rate in Nevada, 14.5%; followed by California, the unemployment rate was 12.5%; again in Florida, was 12%. U.S. states in December last year, the lowest unemployment rate in North Dakota, at 3.8%.
Michigan unemployment rate dropped significantly last year in December by 0.7 percentage points, the highest since the Labor Department in 1976 began compiling the data the highest single month decline since the reason is that labor force reduction of about 3.7 million people. In the mid-Michigan, the unemployment rate dropped to 11.7%, the highest since January 2009 the lowest level since.

Afternoon: Dow another two and a half years high

The Dow rose to its highest at 11,968.30 points, hitting a 2-year and a half high.
Alcoa (AA) to a 4.2% gain in the Dow's biggest gainers. Dow 30 stocks Intel (INTC) rose 1.7%, the chip maker announced a 15% dividend increase and stock repurchase plan approved by the size of its increase of 100 billion U.S. dollars. United Technologies Corp. (UTX) up 1.2%, the company will report earnings after the bell on Monday. American Express (AXP) will report earnings after the bell today, and its shares fell 0.4%.
Dow component, fast-food giant McDonald's (MCD) rose 0.3%. The company announced fourth-quarter net profit rose 2.1%, in line with market expectations. But investors at the end of this company same-store sales growth was slowing down. McDonald's December same-store sales increase of 2.6%, only about half of the increase in the previous two months.
Some investors believe the market rally on Monday, investors may be due to recent stock market declines are not much comfort.

January Philadelphia manufacturing index fell slightly

Philadelphia Federal Reserve reported Thursday, January slight cooling the Philadelphia region.
Philadelphia Fed business conditions index in January last year in December from 20.8 down to 19.3, while economists had expected unchanged.
Although the index declined, the report no shortage of bright spots.
Merrill Lynch economist Neil Dutta said, "The index is still high, the equivalent of Supply Management manufacturing index at 55 o'clock, reflecting the manufacturing sector is rapidly expanding in the region."
In the January report, the new orders index rose from 10.6 in December to 23.6, the employment index rose to 17.6 from 4.3.
The unfilled orders index rose to 8.7 from 4.0.
The transport index rose to 13.4 from 5.2, stock index rose from minus 5.9 to 6.8%.
Due to higher commodity prices, prices paid index rose to 54.3 from 47.9. Product selling price index rose to 17.1 from 9.4, reflecting the rising cost of business has shifted product buyers.
New York Federal Reserve, recently said that in January the past month, New York State manufacturing index rose to 11.9 from 9.9, indicating that the manufacturing industry is full of vitality.
Philadelphia and New York Fed manufacturing index are forecast to be early February for Supply Management's manufacturing index released provide a good clue. Institute for Supply Management is considered to provide real-time measure of the best indicators of economic conditions.
December Institute for Supply Management manufacturing index rose to 57.0, a record high of 6 months.
The Labor Department reported Thursday initial claims for unemployment benefits last week fell by 3.7 million to 40.4 million.