Canada Data Response Manufacturing Sales (Mar.) Although manufacturing sales values rose by a strong 1.0% m/m in March, this largely reflected higher prices rather than strong sales volumes. Nevertheless, the stronger gains in unfilled orders and... 17th May 2017 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Apr.) Despite a record high in Toronto, the national rate of annual house price inflation edged down to 13.4% in April, from 13.5%, reflecting the rapid slowdown in Vancouver and falling house prices in... 12th May 2017 · 1 min read
Canada Data Response Labour Force Survey (Apr.) The meagre 3,200 increase in employment in April, which included a big decline in full-time jobs, was a disappointment and will reinforce the Bank of Canada’s view that policy needs to remain highly... 5th May 2017 · 1 min read
Canada Data Response International Merchandise Trade (Mar.) Although export volumes grew by 2.3% m/m in March, that followed a big decline the month before, with exports increasing only trivially in the first quarter as a whole. This poor export performance... 4th May 2017 · 1 min read
Canada Data Response GDP by Industry (Feb.) Despite further gains in housing-related activity, monthly GDP was unchanged in February, dragged down by weakness in export-orientated manufacturing. This demonstrates that, despite the strength in... 28th April 2017 · 1 min read
Canada Data Response Consumer Prices (Mar.) Falling gasoline price inflation led to a drop in the headline inflation rate to 1.6% in March, from 2.0%, and core inflation dipped further below the 2% mid-point of the Bank of Canada’s target range... 21st April 2017 · 1 min read
Canada Data Response Manufacturing Sales (Feb.) Although manufacturing sales values edged lower in February, the further gain in volumes and inventories suggest that production is gearing up for stronger export sales. This is a good sign that the... 13th April 2017 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Mar.) Despite a further acceleration in Toronto, the national rate of annual house price inflation eased to 13.0% in March, down from 13.4%, reflecting the continued slowdown in Vancouver and falling house... 12th April 2017 · 1 min read
Canada Data Response Labour Force Survey (Mar.) The further gains in employment and hours worked in March are positive signs for growth in labour income. That supports our view that household spending contributed strongly to first-quarter GDP... 7th April 2017 · 1 min read
Canada Data Response International Merchandise Trade (Feb.) The 2.5% m/m drop in export volumes in February was widespread and suggests that the economy is still struggling with competitiveness challenges. This just goes to show that the Bank of Canada is... 4th April 2017 · 1 min read
Canada Data Response GDP by Industry (Jan.) It’s tempting to conclude from the very strong 0.6% m/m gain in January GDP that the economy has turned the corner and that the Bank of Canada’s dovish take on the economy is out of tune with reality... 31st March 2017 · 1 min read
Canada Data Response Consumer Prices (Feb.) The small decline in the headline inflation rate to 2.0% in February, from 2.1%, was softer than expected, particularly considering higher gasoline price inflation. The bigger story though continues... 24th March 2017 · 1 min read
Canada Data Response Manufacturing Sales (Jan.) The further 0.7% m/m increase in manufacturing sales volumes in January, partly driven by higher activity in the petroleum industry, provides further evidence that the economy maintained its momentum... 17th March 2017 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Feb.) The annual rate of national house price inflation rose to a ten-year high of 13.4% in February, up from 13.0%, largely reflecting the continued acceleration in Toronto. The housing market conditions... 14th March 2017 · 1 min read
Canada Data Response Labour Force Survey (Feb.) While employment rose by a moderate 15,300 in February, the bigger story was the massive 105,100 jump in full-time work, extending the run of better quality jobs lately. That adds to the evidence the... 10th March 2017 · 1 min read
Canada Data Response International Merchandise Trade (Jan.) The rebound in merchandise export volumes in January, led by non-energy trade, is encouraging and broadly consistent with the recent pick-up in external business activity indicators. 7th March 2017 · 1 min read
