Canada Data Response GDP (Q4 2016) More moderate GDP growth in the fourth quarter completed what proved to be a disappointing year of only 1.4% growth. Policymakers had hoped for a more spirited and sustainable export-led recovery... 2nd March 2017 · 1 min read
Canada Data Response Consumer Prices (Jan.) The headline inflation rate rose to 2.1% in January, up from 1.5%, largely because of higher gasoline inflation. While some of those gains will be reversed in February, the Bank of Canada will be much... 24th February 2017 · 1 min read
Canada Data Response Manufacturing Sales (Dec.) The manufacturing sector ended last year in spectacular fashion, with sales volumes rising strongly for a second consecutive month in December. This strength is partly due to a rebound in the... 15th February 2017 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Jan.) The annual rate of national house price inflation rose to a ten year high of 13.0% in January, up from 12.3%, in large part due to the speculative housing boom in Toronto. That boom will continue to... 14th February 2017 · 1 min read
Canada Data Response Labour Force Survey (Jan.) The impressive run of headline employment gains continued this year, with 48,300 jobs added in January, which is further evidence of a meaningful economic recovery in the second half of last year from... 10th February 2017 · 1 min read
Canada Data Response International Merchandise Trade (Dec.) December’s trade report confirmed that, even with the benefit of a weaker Canadian dollar, export volumes barely grew last year, which is further evidence of the structural competitiveness challenges... 7th February 2017 · 1 min read
Canada Data Response GDP by Industry (Nov.) The 0.4% m/m increase in November GDP was broad-based, with manufacturing, mining, construction, retail and finance all recording solid gains. The only negatives were a weather-related 3.0% m/m... 31st January 2017 · 1 min read
Canada Data Response Consumer Prices (Dec.) & Retail Sales (Nov.) Consumer prices increased by 0.3% m/m seasonally adjusted in December, which was enough to push the headline CPI inflation rate back up to 1.5%, from 1.2%, but the big story is still the weakness of... 20th January 2017 · 1 min read
Canada Data Response Manufacturing Sales (Nov.) Manufacturing sales rebounded by an encouraging 1.5% m/m in value terms in November and 1.2% m/m in volume terms, led by gains in primary metals, petroleum goods and chemicals. Based on the already... 19th January 2017 · 1 min read
Canada Data Response Labour Force Survey (Dec.) & Int. Trade (Nov.) The massive 54,000 increase in employment in December continued the barely believable run of job gains over the past few months. The economy added 108,000 jobs in the fourth quarter, the most since... 6th January 2017 · 1 min read
Canada Data Response Canada Data Response - GDP by Industry (Oct.) The worrisome 0.3% m/m decline in October GDP was much weaker than expected, suggesting that the economy can’t cope with lower commodity prices, despite the lower Canadian dollar. Unfortunately, with... 23rd December 2016 · 1 min read
Canada Data Response Consumer Prices (Nov.) & Retail Sales (Oct.) The further softening in core inflation in November to 1.3%, from 1.4%, suggests that there is more downside risk to the Bank of Canada’s inflation rate outlook, which is consistent with our view that... 22nd December 2016 · 1 min read
Canada Data Response Manufacturing Sales (Oct.) The large drop in manufacturing sales volumes and the slip in inventories in October indicate that economic growth slowed sharply at the start of the fourth quarter. Accordingly, the risks around the... 15th December 2016 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Nov.) The annual house price inflation rate edged up to 11.9% in November, from 11.8%, driven by a further acceleration in Toronto’s red-hot housing market. While that trend might continue in the near term... 14th December 2016 · 1 min read
Canada Data Response International Merchandise Trade (Oct.) The decline in export volumes in October, following the sharp fall in the month before, suggest that export growth this quarter might turn out a lot weaker than even we had assumed. Accordingly, the... 6th December 2016 · 1 min read
Canada Data Response Labour Force Survey (Nov.) The unexpected 10,700 increase in employment in November was driven entirely by gains in part-time work, while the decline in full-time jobs provided futher evidence that the economy is still... 2nd December 2016 · 1 min read
