Canada Data Response Retail Sales (Feb.) The gains in retail sales in February and March are likely to be reversed this month, but the high level of consumer confidence suggests spending will recover quickly once the coronavirus restrictions... 28th April 2021 · 3 mins read
Canada Data Response Consumer Prices (Mar.) Despite a muted monthly rise in prices, inflation jumped to 2.2% in March due to base effects. It will surpass 3% in April for the same reason. While inflation should then ease, we expect it to remain... 21st April 2021 · 2 mins read
Canada Data Response Teranet House Prices (Mar.) House price inflation according to the Teranet index surpassed 10% in March for the first time since 2017, and the high sales-to-new listing ratio implies it will continue to accelerate. 20th April 2021 · 2 mins read
Canada Data Response Manufacturing Sales (Feb.) The 1.6% m/m fall in manufacturing sales in February was primarily due to the negative effect on the auto sector of the global semiconductor shortage. While that shortage has persisted into March and... 15th April 2021 · 2 mins read
Canada Data Response Business Outlook & Consumer Expect. Surveys (Q1) The Bank of Canada’s quarterly surveys suggest that investment and consumption will recover strongly in the coming year, and are another reason to expect the Bank to trim its asset purchases next week... 12th April 2021 · 2 mins read
Canada Data Response Labour Force Survey (Mar.) The 303,000 jump in employment in March was far stronger than expected. While some of the gains will be reversed this month due to the tightening of coronavirus restrictions, that will prove temporary... 9th April 2021 · 2 mins read
Canada Data Response International Trade (Feb.) The global semiconductor shortage and severe winter weather in the US contributed to the falls in exports and imports in February, with the auto sector hit especially hard. Those shortages look set to... 7th April 2021 · 2 mins read
Canada Data Response GDP by Industry (Jan.) The economy’s stronger-than-expected performance at the start of 2021 bodes well for the recovery and is likely to further convince the Bank of Canada that it is time to reduce the pace of its asset... 31st March 2021 · 2 mins read
Canada Data Response Retail Sales (Jan.) The fall in retail sales in January was smaller than first indicated and the preliminary estimate for February suggests that, as lockdowns were lifted, most of the decline over the prior two months... 19th March 2021 · 2 mins read
Canada Data Response Consumer Prices (Feb.) The modest rise in inflation to 1.1% in February is set to be followed by much sharper increases to more than 2% this month and to more than 3% in April, as energy inflation surges. 17th March 2021 · 2 mins read
Canada Data Response Manufacturing Sales (Jan.) The manufacturing sector made a strong start to 2021, despite the major disruption to the auto industry from the global microchip shortage, as sales across the natural resource sectors rose sharply. 15th March 2021 · 2 mins read
Canada Data Response Labour Force Survey (Feb.) The strong rebound in employment in February almost fully made up for the losses in December and January. While the pace of gains is now likely to slow, employment should continue to rise as the... 12th March 2021 · 3 mins read
Canada Data Response International Trade (Jan.) The 8.1% m/m surge in exports in January was partly due to temporary factors but, amid strong global demand for commodities, exports are doing better than we expected a few months ago. 5th March 2021 · 2 mins read
Canada Data Response GDP (Q4) The 9.6% annualised gain in fourth-quarter GDP was three times as strong as the consensus forecast from just a couple of months ago. The preliminary estimate that GDP grew by 0.5% m/m in January... 2nd March 2021 · 2 mins read
Canada Data Response Retail Sales (Dec.) Lower-than-usual holiday spending caused retail sales to fall by more than 3% m/m in December and, amid the latest lockdowns, the preliminary estimate shows sales fell by almost as much again in... 19th February 2021 · 2 mins read
Canada Data Response Teranet House Prices (Jan.) The further slowdown in the monthly pace of gains in January suggests house price inflation will soon peak at a little more than 10%. 18th February 2021 · 2 mins read
