Canada Data Response Survey of Manufacturing (Jun.) The surprising 0.4% m/m decline in manufacturing sales in June was largely explained by ongoing volatility at petroleum refineries. For this same reason manufacturing sales volumes increased more... 16th August 2012 · 1 min read
Canada Data Response Labour Force Survey (Jul. 12) July's surprisingly large 30,400 decline in employment, following two months of paltry gains, is a bad start to the second half of this year. Admittedly, the underlying details were better than the... 10th August 2012 · 1 min read
Canada Data Response International Merchandise Trade (Jun.) June's 0.3% m/m gain in export volumes together with upward revisions to previous months indicate that second-quarter exports increased, a somewhat stronger outcome than the slight decline we had... 9th August 2012 · 1 min read
Canada Data Response GDP by Industry (May) The modest 0.1% m/m increase in Canada's monthly GDP in May supports our existing estimate that the economy expanded at a disappointing 1.7% annualised pace in the second quarter. That would mark the... 31st July 2012 · 1 min read
Canada Data Response Survey of Employment, Payrolls and Hours (May) May's payroll survey data, which showed solid gains in average weekly earnings and employment, indicate that second-quarter wages and salaries increased by close to 7.0% annualised, more than double... 26th July 2012 · 1 min read
Canada Data Response Retail Sales (May) May's 0.7% m/m rebound in retail sales volumes, paired with last week's positive wholesale and manufacturing volumes figures, indicate that monthly GDP grew by 0.2% m/m in May, slightly stronger than... 24th July 2012 · 1 min read
Canada Data Response Consumer Price Index (Jun. 12) June's rise in the official 'core' inflation figure, to 2.0% from 1.8%, mainly reflects transportation base year effects. With inflation expectations well anchored and economic growth likely to remain... 20th July 2012 · 1 min read
Canada Data Response Survey of Manufacturing (May) The modest 0.4% m/m decline in manufacturing sales values in May was entirely due to the fall in the sale of petroleum and coal products. In volume terms, though, overall sales actually nudged higher... 17th July 2012 · 1 min read
Canada Data Response International Merchandise Trade (May) May's 0.6% m/m decline in export volumes together with downward revisions to previous months indicate that second-quarter exports declined, a significantly weaker result than our earlier assumption... 11th July 2012 · 1 min read
Canada Data Response Labour Force Survey (Jun.) June's modest 7,300 gain in employment was close to consensus expectations (+5,000) and supports our view that the economy grew more strongly in the second quarter, to 2.2% annualised from 1.9% in the... 6th July 2012 · 1 min read
Canada Data Response GDP by Industry (Apr.) April's 0.3% m/m increase in GDP, thanks to a rebound in the volatile mining sector, was slightly stronger than consensus expectations (0.2% m/m) and supports our view that Canada's economy grew... 29th June 2012 · 1 min read
Canada Data Response Survey of Employment, Payrolls and Hours (Apr.) April's payroll survey data, which showed a strong increase in average weekly earnings and a modest gain in employment, point to solid second-quarter wages and salaries growth of around 5.0%... 28th June 2012 · 1 min read
Canada Data Response Consumer Price Index (May) May's slightly larger than expected decline in the official 'core' inflation figure, to 1.8% from 2.1%, provides even greater leeway for the Bank of Canada to refrain from raising interest rates... 22nd June 2012 · 1 min read
Canada Data Response Retail Sales (Apr.) April's disappointing 0.8% m/m drop in retail sales volumes would be disconcerting for monthly GDP growth if it were not for the surprisingly strong growth in wholesale trade data released earlier... 21st June 2012 · 1 min read
Canada Data Response Survey of Manufacturing (Apr.) April's surprising 0.8% m/m decline in the value of manufacturing sales, mainly due to lower volumes, points to another month of modest growth in GDP, possibly as low as 0.1%m/m. We originally assumed... 15th June 2012 · 1 min read
Canada Data Response LFS(May 12) & Trade (Apr 12) May's more modest 7,700 gain in employment is forgivable given the unusually strong growth in the previous two months. That said, the details were somewhat discouraging. While part-time employment... 8th June 2012 · 1 min read
