In this edition:
Real GDP up 1.1%, fastest rate of growth since March 2021
Moderna to open Canadian manufacturing site
Erin O’Hoski named new St. Catharines Deputy CAO
Moderna seeks vaccine approval for kids under six
New EV Chargers Coming to St. Catharines
Real GDP up 1.1%, fastest rate of growth since March 2021
Real gross domestic product (GDP) rose 1.1% in February, the largest monthly growth rate since March 2021, as broad-based increases across most sectors contributed to the ninth consecutive monthly expansion in economic output.
Both services-producing (+0.9%) and goods-producing (+1.5%) industries were up, as 16 of 20 industrial sectors expanded in February.
Advance information indicates that real GDP increased 0.5% for March. Client-facing industries led the growth on continued reopening of activities and easing of restrictions put in place at the onset of Omicron variant. Increases were also recorded in the manufacturing and construction sectors. The wholesale sector posted a decline.
Moderna to open Canadian manufacturing site
The Prime Minister, Justin Trudeau, today announced that COVID-19 vaccine developer Moderna will build a state-of-the-art manufacturing facility in Quebec to deliver made-in-Canada vaccines. When completed, this new facility will be able to produce up to 100 million mRNA vaccine doses annually and employ hundreds.
Erin O’Hoski named new St. Catharines Deputy CAO
It will be a homecoming as Erin O’Hoski takes the reigns of Deputy Chief Administrative Officer (CAO) at the City of St. Catharines.
O’Hoski formerly served as corporate planning officer for the City from 2007 to 2013, as part of a 20 year career in municipal leadership. She brings with her a long-standing track record of political and community engagement, with a consensus-driven approach to developing and implementing policy to drive strategic priorities. Beyond her past role with the City, O’Hoski has municipal leadership experience with Niagara Region, Brampton, and her own strategic planning company, Boulevard Strategy Group.
Moderna seeks Health Canada approval for COVID-19 vaccine for kids under six
Health Canada is reviewing the first request to approve a COVID-19 vaccine for very young kids. The Moderna application is for children between the ages of six months and five years old. The company says a trial of 6,700 children determined the vaccine was safe and produced a similar antibody response to the one that is seen in adults.
A single dose for children under six is 25 micrograms _ one quarter of the size given to adults and teenagers and half the size used for children ages six to 11. Health Canada received Moderna’s application this morning after the company made a similar request to the U.S. Food and Drug Administration on Thursday.
The trial took place mainly during the wave of the Omicron variant and the vaccine was less effective at preventing infection in kids than previous trials in adults.
New EV Chargers Coming to St. Catharines
Today, Chris Bittle, Parliamentary Secretary to the Minister of Canadian Heritage and Member of Parliament for St. Catharines, on behalf of the Honourable Jonathan Wilkinson, Minister of Natural Resources, announced a $250,000 investment in Alectra Energy Services to install 50 Level 2 EV chargers across St. Catharines, Barrie and Markham.
Funded through Natural Resources Canada’s Zero-Emission Vehicle Infrastructure Program, all chargers will be available to Ontarians this spring. Alectra Energy Services also contributed more than $710,000, bringing the total project cost to more than $960,000.
Reading Recommendations
Canada’s first-quarter economic surge adds to rate hike pressure
Reuters
The Canadian economy most likely grew by an annualized 5.6% in the first quarter, official data showed on Friday, well ahead of the Bank of Canada’s recent projections, reinforcing the likelihood of another oversized interest rate increase.
Canada’s real gross domestic product rose by 1.1% in February from January, beating analyst estimates of 0.8% growth and gaining for a ninth consecutive month. The economy likely grew by 0.5% in March, Statscan said in its flash estimate.
The flash estimate for first-quarter annualized growth was much higher than the 3.0% forecast published by the Canadian central bank earlier this month. The economy posted broad-based increases as COVID-related restrictions were eased, Statistics Canada said.
“The Bank of Canada has set the table for a 50-basis-point hike in June, but data like this will have markets pricing in at least some chance that central bankers need to move more aggressively,” Royce Mendes, head of macro strategy at Desjardins Group, said in a note.
The Time is Now to Address the Routine Immunization Gap
Ontario Chamber of Commerce
Immunization is one of the most important and cost-effective public health innovations. In Canada, immunization has saved more lives than any other health intervention.
This National Immunization Awareness Week, we call on the Province of Ontario to prioritize routine immunizations – for children and adults – that have declined sharply during COVID-19.
Ontario has been a leader in COVID-19 vaccination implementation, leveraging expanded access points, uniting health professionals, launching a robust public awareness campaign, and tracking immunization through a modernized system to ensure broad protection against COVID-19. It’s time to do the same for all routine immunizations.
The magnitude of pandemic disruptions to routine immunizations will require similar efforts as Ontario’s COVID-19 campaign. We call on the Government of Ontario to build on lessons learned through COVID-19.
Update on Ukraine
Canada training Ukrainian troops on howitzer artillery, Canadian defense minister says
Reuters
Canada’s Defense Minister Anita Anand said during a visit to Washington on Thursday that Canadian troops were training Ukrainian troops to use howitzer artillery.
The United States has been training a small number of Ukrainian forces on howitzers and some other systems outside of Ukraine. Anand, speaking alongside U.S. Defense Secretary Lloyd Austin, did not say where the Canadian training was taking place.
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
