Canada Data Response Teranet-National Bank House Prices (Mar.) Despite house prices rebounding by 0.4% m/m in March, the annual rate of house price growth dropped to a three-year low of 2.6%, down from 2.7% in February. We expect that, as existing home sales... 17th April 2013 · 1 min read
Canada Data Response Survey of Manufacturing (Feb.) February's surprising 2.5% m/m rebound in manufacturing sales volumes, which follows two consecutive monthly declines, suggests that overall economic growth in that month might have increased by 0.2%... 16th April 2013 · 1 min read
Canada Data Response Labour Force Survey (Mar.) & Trade (Feb.) March's ugly 54,500 decline in employment offsets the previous month's equally surprising gain, leaving employment little changed over the first quarter of this year. Given recent sluggish GDP growth... 5th April 2013 · 1 min read
Canada Data Response GDP by Industry (Jan. 13) January's 0.2% m/m rebound in monthly GDP, which reversed a similar-sized contraction in the final month of last year, still leaves the economy struggling to advance at a rate anywhere close to the... 28th March 2013 · 1 min read
Canada Data Response Consumer Price Index (Feb.) The stronger than expected pick-up in headline inflation to 1.2% in February, from 0.5% in January, mostly reflects higher gasoline and motor vehicle prices. It does not alter the near-term outlook... 27th March 2013 · 1 min read
Canada Data Response Retail Sales (Jan.) The flat growth in January's retail sales volumes suggests that the slowdown in consumption growth seen at the end of last quarter appears to have continued into the first quarter. Accordingly, there... 21st March 2013 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Feb.) Despite the past weakening in existing home sales and rising number of properties for sale, the annual growth rate of house prices remained at 2.7% in February. As sales continue to trend lower... 20th March 2013 · 1 min read
Canada Data Response Survey of Manufacturing (Jan.) January's disappointing 0.4% m/m decline in manufacturing sales volumes suggest that industrial production might have struggled to rebound from December's decline. Thankfully, wholesale activity... 19th March 2013 · 1 min read
Canada Data Response Labour Force Survey & Housing Starts (Feb.) February's 50,700 gain in employment (the consensus estimate was +8,000) is a big surprise given how weak GDP growth has been recently. Even after taking into account the 21,900 jobs lost in January... 8th March 2013 · 1 min read
Canada Data Response International Trade & Building Permits (Jan.) January's external trade data bodes well for first-quarter real GDP growth, which we anticipate will increase by 1.5% annualised. Other data released this morning also shows that January's residential... 7th March 2013 · 1 min read
Canada Data Response GDP (Q4 2012) Canada's economic slowdown over the second half of last year and uncertain prospects ahead put additional pressure on the Bank of Canada to completely abandon its tightening bias next week. Given the... 1st March 2013 · 1 min read
Canada Data Response Consumer Price Index (Jan.) Following a year in which India’s growth weakened, external deficit widened, and sovereign ratings came under pressure, the upcoming budget will be a crucial test of the government’s policy... 22nd February 2013 · 1 min read
Canada Data Response Survey of Manufacturing (Dec.) December's disappointing 3.1% m/m drop in manufacturing sales more than offset the previous month's rebound and suggests that industrial production faltered at the end of last year. Overall, the risks... 15th February 2013 · 1 min read
Canada Data Response International Merchandise Trade (Dec.) December's decline in export volumes is a discouraging sign for fourth-quarter GDP growth. Moreover, the widespread drop in imports suggest that the domestic economy slowed quite a bit at the end of... 8th February 2013 · 1 min read
Canada Data Response Labour Force Survey (Jan.) January's weaker than expected 21,900 decline in employment (the consensus estimate was +5,000) can be forgiven, given the unusually strong gains posted in previous months. Nevertheless, with the... 8th February 2013 · 1 min read
Canada Data Response GDP by Industry (Nov. 12) November's 0.3% m/m gain in GDP, following the slightly downward revised 0.1% advance the month before, almost insures that fourth-quarter GDP growth improved somewhat over the poor 0.6% annualised... 31st January 2013 · 1 min read
