Canada Chart Pack Housing starts likely to decline further The continued decline in housing starts from elevated levels supports our view that residential investment will remain a drag on economic growth over the first half of 2013. Unfortunately, housing... 9th May 2013 · 1 min read
Canada Chart Pack Business pullback could not come at worse time Weaker business investment intentions could not come at a worse time for the domestic economy. With housing investment contracting and governments reining in spending, slower business investment... 11th April 2013 · 1 min read
Canada Chart Pack Canada's exporters struggling to tap US recovery Canada's economy grew by only 0.7% annualised over the second half of last year, with a decline in exports subtracting almost 2 percentage points from annualised GDP. The recent lacklustre pace of non... 5th March 2013 · 1 min read
Canada Chart Pack Inflation falls to three-year low Canada's headline annual inflation rate has fallen to its lowest level in over three years, suggesting that there is more slack in the economy than commonly perceived. With economic growth forecast to... 6th February 2013 · 1 min read
Canada Chart Pack Downward trend in housing investment will persist Housing starts continued to ease during the fourth quarter of last year, to an annualised 202,855, from 221,709 in the prior quarter. Nevertheless, it is possible that overall residential investment... 10th January 2013 · 1 min read
Canada Chart Pack Export growth likely to remain hard fought Global manufacturing PMI data for November indicate that Canada's non-energy exports will remain broadly stagnant in the near term. The recovery in US home building and auto sales, however, should... 6th December 2012 · 1 min read
Canada Chart Pack Housing starts likely to slump next year Since early 2010, housing starts have been driven by the multi-unit sector, with single detached housing starts remaining broadly unchanged. The problem is that housing construction has been running... 7th November 2012 · 1 min read
Canada Chart Pack Labour market slack likely to increase Government officials insist that much of the slack in the labour market following the 2009 recession has been taken up. Alternative measures, however, contradict this message. Admittedly, the official... 11th October 2012 · 1 min read
Canada Chart Pack High household debt difficult to hurdle Households have been running a financial deficit for over a decade, a significant departure from their normal role as net savers, resulting in a massive increase in household debt. This trend has... 12th September 2012 · 1 min read
Canada Chart Pack Canada's sub-par economic performance The below par 2% rate of Canadian GDP growth over the first half of this year must be a concern for policy makers, particularly when the chances are that growth will slow even further in the second... 9th August 2012 · 1 min read
Canada Chart Pack Lower oil prices threaten investment prospects The faltering global economy has driven commodity prices lower, with Canadian oil prices down sharply from levels earlier this year. Although oil prices have risen somewhat over the past week, we... 5th July 2012 · 1 min read
Canada Chart Pack Domestic demand prospects looking less sure Canada's economy grew by 1.9% annualised in the first quarter, matching the pace in the previous quarter and, given the recent slump in commodity and equity prices, a substantial pick-up in growth... 6th June 2012 · 1 min read
Canada Chart Pack Housing market continues to raise eyebrows The surprisingly strong surge in housing starts, to 244,900 annualised in April, is yet another sign that Canada's housing market is dangerously overheating. Admittedly, starts have only recovered to... 9th May 2012 · 1 min read
Canada Chart Pack Inflation still poised to decline Although gasoline prices have risen over the last few months, the year-on-year rate of gasoline inflation is still set to fall over the next few months. Given that other energy and non-energy... 3rd April 2012 · 1 min read
Canada Chart Pack Economic growth likely to slow further in 2012 Canada's economy grew by 2.5% in 2011, down from the 3.2% rebound in the year before. Both households and businesses contributed 1.5 percentage points to overall growth last year. While the government... 7th March 2012 · 1 min read
Canada Chart Pack Economy stumbles in the fourth quarter November's surprising 0.1% m/m contraction in GDP was caused by a sharp drop in energy output. All things considered, we now figure that fourth-quarter GDP grew by 1.5% annualised, below our previous... 1st February 2012 · 1 min read
