Marvin on what’s in store for 2014

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With the new year in our sights, Marvin Ryder from the DeGroote School of Business stopped by to give his insight on what the Canadian economy could look like in 2014.

“Before 2007, our Canadian stock market hit 15,000 points. Today, we’re at 13,500, so there’s lots of room for improvement, and to think now that BlackBerry has kind of sorted itself out where it’s going to be in the market, yes, 2014, this market could go up by as much as 15 per cent and start to rival some of the record numbers we’re seeing south of the border in the United States, which has set record after record, now over 16,000 points, and it looks like its going to continue hot into next year.”

The resource heavy Toronto market is viewed as a proxy for the overall global economy. Falling prices of commodities like precious metals have helped to make Toronto one of the weakest markets.

Observers point out that 2014 will be the first since the credit crisis of 2007 that the global economy is moving forward in lock-step.

Canada’s two big railway companies and the big banks are giving strength to the TSX. Canada’s bank stocks rose 20 per cent this year.

Ryder says Canadians seem to be optimistic about the coming year, which is always good news for the economy.

The latest survey by Harris Decima and the Investors Group found the national index was at 84.4 in the fourth quarter — up nearly seven points from the first quarter. The survey also found that all regions of Canada showed improvements in the fourth quarter, with Alberta’s confidence ranking the highest in the country at 95.

Video: Annette Hamm interviews Marvin Ryder on economic trends