Your browser is not supported

Your browser is too old. To use this website, please use Chrome or Firefox.

Greater Niagara Chamber of Commerce

Daily Update: January 20, 2025

In this edition:

  • Niagara Health launches retail strategy survey for South Niagara Hospital
  • Optimism in retail sector grows as consumer confidence returns
  • Higher airfares expected in the first half of 2025
  • Residential building construction drops by $168M
  • Trump’s team indicates he won’t hit Canada with tariffs on his first day in office
  • “We can usher in a new American and Canadian century,” says Premier Ford
  • CCA outlines how to prepare your business for potential tariffs
  • Focus on Finance & Economy

Did you know you can get the GNCC’s Daily Update emailed to you? Click here to sign up.

 


A cafeteria at the Marotta Family Hospital

Picture credit: Niagara Health

Niagara Health launches retail strategy survey for South Niagara Hospital

Niagara Health is once again seeking input from the community, this time through a survey open to all Niagara residents to help shape the retail and food and beverage strategy for the new hospital.

Niagara Health has been working with consultants from JC Williams Group, who were selected through a competitive process to help guide the retail strategy planning.

Click here to read more.


A line of increasingly-tall coin stacks with stylized shopping carts on top

Photo credit: Andrey Popov / Adobe Stock

Optimism in retail sector grows as consumer confidence returns

Business sentiment remains “subdued,” today’s Business Outlook Survey from the Bank of Canada revealed, but firms are beginning to anticipate improvements in sales activity. Meanwhile, businesses expect growth in costs to continue to ease and growth in selling prices to stabilize.

Meanwhile, the Bank’s survey of consumers found that fewer consumers reported that they are spending less or plan to reduce their spending; and, for the first time since 2021, consumers said they expect their spending to increase faster than they expect prices to rise.

Click here to read more.


An airliner in flight from below against a blue sky

Photo credit: Imaging L / Adobe Stock

Higher airfares expected in the first half of 2025

Consumer Price Index data released on Jan. 15 showed that airfares in December were up 7.9% year over year, having jumped 3.2% between November and December, adjusted for normal seasonal price trends.

Meanwhile, Hopper predicts that discount hunters will encounter significantly elevated domestic ticket prices throughout the first half of 2025.

Click here to read more.


Timber framing in an unfinished home

Photo credit: ungvar / Adobe Stock

Residential building construction drops by $168M

The monthly decline in investment in building construction in November was driven by the residential sector (-$168.1 million to $14.8 billion) but was partially offset by a gain in the non-residential sector (+$71.5 million to $6.6 billion), Statistics Canada reports.

Investment in residential building construction declines occurring in four provinces and three territories, led by Ontario (-$227.8 million).


Did you know?

Shoe and clothing retailer Johnston & Murphy has closed its Canadian stores.


Canada-U.S. Business

Trump’s team indicates he won’t hit Canada with tariffs on his first day in office

U.S. President Donald Trump’s team is indicating he won’t hit Canada with damaging tariffs on his inauguration day.

“Working together, we can usher in a new American and Canadian century,” says Premier Ford

“Canada and the United States can be the richest, most successful, safest and most secure two countries on the planet,” said Ontario Premier Doug Ford on the occasion of President Donald Trump’s inauguration. “Working together, we can usher in a new American and Canadian century, a time of unprecedented growth, job creation and prosperity.”

CCA outlines how to prepare your business for potential tariffs

With the announcement of a proposed 25 per cent tariff on all imports from Canada and Mexico by U.S. president-elect Donald Trump set to take effect today (Jan. 20), the Canadian Construction Association is outlining some tips for businesses so they can ready themselves for the potential impacts.


Focus on Finance & Economy

The opportunity for Canada in the Trump tariff crisis

While Donald Trump’s second presidency is generating anticipatory anxiety in capitals across the world, here in Canada, all eyes are on January 20 awaiting an answer to a very specific question: “Will he or won’t he?”

Will Trump really levy an across-the-board 25 percent tariff on Canadian and Mexican goods?”

By now, it should be clear to Canadian observers that Trump means business and tariffs are coming. That was the message Alberta’s Premier Danielle Smith brought back from her trip to Mar-a-Largo, Trump’s Palm Beach estate.

But the form those tariffs may take is still very much a matter for discussion between Trump and his team. Some in his group are arguing for selective tariffs that don’t harm American consumers and contribute as much to inflation.

Click here to read more.


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.

Share this: