This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nearly Half Of Financial Advisors Predict No Growth For Canadian Economy

Sun Life survey finds advisors forecast economic flatline for rest of 2013

TORONTO, June 26, 2013 /CNW/ - Canadian financial advisors are predicting zero growth in the Canadian economy during the second half of this year. That's according to the Summer 2013 edition of the Sun Life Advisor Sentiment Index released today by Sun Life Global Investments. The survey, conducted by Ipsos Reid from April 5 to May 22, 2013, measures financial advisors' opinions on capital markets and key economic factors.

Advisors are feeling positive about capital markets around the world, with bulls outnumbering bears by more than two to one. Fifty-four per cent of advisors polled feel bullish about the markets generally, with their optimism focused on U.S. equities. Over 60 per cent of advisors say they are either very bearish or somewhat bearish on Canadian and U.S. government bonds.

"The U.S. equities market has seen record highs in the first half of 2013," said Sadiq S. Adatia, Chief Investment Officer, Sun Life Global Investments. "This market has consistently performed well and this trend is predicted to continue."

While the U.S. markets are seeing upward movement, advisors are overall bearish on Canada.

  • Forty-four per cent of advisors see zero economic growth in Canada for the second half of 2013.
  • Another nine per cent are forecasting that the Canadian economy will contract.
  • Twenty-two per cent of advisors are at least somewhat bearish on the S&P/TSX Composite Index.
  • Nearly 40 per cent expect the index to be flat by the end of the year.

"The Canadian economy has weathered the financial downturn fairly well," said Adatia. "Though no growth is expected over the next six months, we believe the economy will remain stable during this period."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,020.25 -17.72 -0.10%
S&P 500 2,105.03 -3.89 -0.18%
NASDAQ 5,042.1130 -18.1330 -0.36%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs