Canada Data Response Retail Sales (Sep.) The 1.1% m/m rise in retail sales in September was much better than expected, but sales appear to have stagnated in October and the prospect of restrictions being imposed on all non-essential... 20th November 2020 · 2 mins read
Canada Data Response Consumer Prices (Oct.) The unexpected rise in inflation to 0.7% in October, from 0.5%, was mainly due to higher food prices. While renewed restrictions related to COVID-19 could cause prices for some items to increase in... 18th November 2020 · 2 mins read
Canada Data Response Manufacturing Sales (Sep.) The 1.5% m/m rise in manufacturing sales in September reversed the 1.4% fall in August, but still left sales down 6% y/y. While the business surveys point to another month-on-month rise in October... 16th November 2020 · 2 mins read
Canada Data Response Labour Force Survey (Oct.) Employment growth slowed sharply in October, but the 84,000 gain was still impressive given that the renewed coronavirus-related restrictions caused employment to fall in some sectors. Moreover, the... 6th November 2020 · 3 mins read
Canada Data Response International Trade (Sep.) Exports and imports both rose at a similar pace in September and we expect them to continue to edge up over the rest of the year, despite the recent reimposition of domestic restrictions and in key... 4th November 2020 · 2 mins read
Canada Data Response GDP by Industry (Aug.) The 1.2% m/m rise in GDP in August and the preliminary estimate of a 0.7% gain in September confirm that the initial recovery has been stronger than first anticipated. The latest restrictions will... 30th October 2020 · 2 mins read
Canada Data Response Consumer Prices (Sep.) & Retail Sales (Aug.) The September data showed that the housing boom is now feeding through into higher inflation, but the headline rate is nevertheless set to remain below 1% for the rest of this year. 21st October 2020 · 2 mins read
Canada Data Response Labour Force Survey (Aug.) The 245,800 increase in employment in August means that nearly 2 million of the 3 million jobs lost during the pandemic lockdowns have now been recouped but, with the pace of the recovery now slowing... 4th September 2020 · 2 mins read
Canada Data Response International Trade (Jul.) The merchandise trade deficit widened to $2.5bn in July, from $1.6bn, as imports of motor vehicles rebounded by more than exports in the same category. But the good news is that, with imports... 3rd September 2020 · 2 mins read
Canada Data Response International Trade (May) The merchandise trade deficit unexpectedly narrowed to $0.7bn in May, from $4.3bn, as exports were boosted by the reopening of motor vehicle production plants and the rebound in crude oil prices. 2nd July 2020 · 2 mins read
Canada Data Response GDP by Industry (Oct.) The 0.1% m/m decline in October’s monthly GDP was partly due to disruption in the motor vehicle sector caused by the GM strike south of the border, but retail and wholesale GDP also contracted. 23rd December 2019 · 2 mins read
Canada Data Response Manufacturing Sales (Oct.) The 0.7% m/m decline in manufacturing sales in October was entirely due to a further decline in motor vehicle sales, which reflects the impact of the strike by GM workers south of the border. As a... 17th December 2019 · 2 mins read
Canada Data Response Teranet House Prices (Sep.) House price inflation edged up to a four-month high of 0.7% y/y in September, from 0.6%, and the strength of the recent rebound in sales points to a further rally, which should extend into the first... 18th October 2019 · 2 mins read
Canada Data Response Retail Sales (July) Retail sales values increased by 0.4% m/m in July, but were unchanged in volumes terms, which supports our view that, after a brief surge in the second quarter, third-quarter GDP growth will drop back... 20th September 2019 · 2 mins read
Canada Data Response Labour Force Survey (June) The 2,200 decline in employment in June is not a concern given that the economy created an average of 50,000 jobs per month over the first five months of this year. That torrid pace was never... 5th July 2019 · 2 mins read
Canada Data Response GDP by Industry (Apr.) The solid 0.3% m/m gain in monthly GDP in April supports our view that second-quarter GDP growth was between 2.5% and 3.0% annualised. But that strength was mainly due to a recovery from a series of... 28th June 2019 · 2 mins read
