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Posted Friday, November 15, 2002
Fewer Canadians gained on investments last year: Statscan
By Ottawa Business Journal staff
Almost six per cent fewer Canadians reported investment income in 2001, Statistics Canada reported Friday, a year that saw the U.S. sink into recession and the North American equity markets plummet.
According to the federal agency, about eight million Canadians received $32.8 billion in investment income in 2001.
That's almost a six per cent decline from the 8.5 million people who reported investment income in 2000.
However, the total amount of income reported rose slightly, by 0.7 per cent, from $32.6 billion in 2000.
The data is compiled from income tax returns filed in 2002.
Instead of investing, Canadians decided to save their money. The number of people saving money and the amount of interest income they reported increased in 2001 from the previous two years.
"For the first time since 1997, there were more than five million savers in 2001, and the interest income they reported exceeded $10.1 billion," Statscan said in its Daily Bulletin.
The number of people reporting investment income declined in every province and territory. The largest decline was in Quebec, with a drop of 15.1 per cent. New Brunswick followed with a drop of 9.5 per cent.
Investment income increased in Alberta by 14.7 per cent, in Ontario by 1.1 per cent, and in Saskatchewan by 0.4 per cent. The largest decline in income was in Nunavut at 17.7 per cent, followed by Prince Edward Island with a 15.5 per cent drop.
Fewer Canadians gained on investments last year: Statscan
By Ottawa Business Journal staff
Almost six per cent fewer Canadians reported investment income in 2001, Statistics Canada reported Friday, a year that saw the U.S. sink into recession and the North American equity markets plummet.
According to the federal agency, about eight million Canadians received $32.8 billion in investment income in 2001.
That's almost a six per cent decline from the 8.5 million people who reported investment income in 2000.
However, the total amount of income reported rose slightly, by 0.7 per cent, from $32.6 billion in 2000.
The data is compiled from income tax returns filed in 2002.
Instead of investing, Canadians decided to save their money. The number of people saving money and the amount of interest income they reported increased in 2001 from the previous two years.
"For the first time since 1997, there were more than five million savers in 2001, and the interest income they reported exceeded $10.1 billion," Statscan said in its Daily Bulletin.
The number of people reporting investment income declined in every province and territory. The largest decline was in Quebec, with a drop of 15.1 per cent. New Brunswick followed with a drop of 9.5 per cent.
Investment income increased in Alberta by 14.7 per cent, in Ontario by 1.1 per cent, and in Saskatchewan by 0.4 per cent. The largest decline in income was in Nunavut at 17.7 per cent, followed by Prince Edward Island with a 15.5 per cent drop.
