Paul Martin's Business Update - October 15th, 2014

There are a few things in the world of economics that seem as predictable as winter summer following in this country.

First of all, October is a tough month for anyone in the stock market. All the big meltdowns seem to happen in October and even when the declines are more modest this seems to be the time of year. And 2014 is no exception. In the past few weeks we’ve seen the market drop about 10 per cent.

Next, there’s the price of gasoline. When we want to drive in the summer prices go up. When we stop thinking about a road holiday, they go down.

And now, with winter just around the corner and thoughts turn to southern holidays, the Canadian dollar hits the tank. The Canuck Buck has lost about four cents or five percent in the past few days. While that is a reason to gripe for anyone planning a holiday in the States later this year, it is good news for exporters as our main customer – in the US – has more purchasing power compared to us.

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