Canada Data Response GDP (Q1 2012) Canada's 1.9% annualised first-quarter GDP growth was somewhat stronger than we had estimated (+1.6%), though it fell short of the 2.5% growth that the Bank of Canada had expected in its April... 1st June 2012 · 1 min read
Canada Data Response Retail Sales (Mar.) March’s strong 0.4% m/m gain in retail sales volumes bodes well for monthly GDP growth, helping to offset the negative impact from the weaker wholesale trade report released last week. Overall, we... 23rd May 2012 · 1 min read
Canada Data Response Consumer Price Index (Apr.) April's surprising rise in the official 'core' inflation figure, which rose to 2.1% from 1.9% in March, partially reflects higher motor vehicle prices and does not suggest higher inflation ahead. More... 18th May 2012 · 1 min read
Canada Data Response Survey of Manufacturing (Mar.) March's 1.9% m/m increase in manufacturing sales volumes supports our view that monthly GDP, after declining by 0.2% m/m in February, rebounded by at least 0.3% m/m the next month. Until we see the... 16th May 2012 · 1 min read
Canada Data Response Labour Force Survey (Apr.) April's surprising 58,200 gain in employment, which follows an almost equally impressive gain in the prior month (see chart), is welcomed news given the unusually weak figures that preceded it... 11th May 2012 · 1 min read
Canada Data Response International Merchandise Trade (Mar.) March's trade figures show an encouraging pick-up in both export and import volumes. With first-quarter growth in exports outpacing imports, we calculate that net trade contributed positively to GDP... 10th May 2012 · 1 min read
Canada Data Response GDP by Industry (Feb.) The unexpected 0.2% m/m decline in February's monthly real GDP means that overall first-quarter GDP growth was probably no more than 2.0% annualised, whereas we had previously hoped for a gain of at... 30th April 2012 · 1 min read
Canada Data Response Retail Sales (Feb.) The 0.2% m/m decline in February's retail sales values was disappointing but, given the news yesterday that wholesale sales increased by a much bigger than expected 1.6% m/m in that month, it still... 24th April 2012 · 1 min read
Canada Data Response Consumer Price Index (Mar.) March's sharp drop in headline consumer price inflation, to 1.9% from 2.6%, and the decline in the official 'core' inflation figure, to 1.9% from 2.3%, supports our view that the Bank of Canada is... 20th April 2012 · 1 min read
Canada Data Response International Merchandise Trade (Feb.) Despite February's 2.9% m/m decline in export volumes, the past growth in monthly exports still indicate that first-quarter net exports managed to contribute positively to GDP growth. We estimate the... 12th April 2012 · 1 min read
Canada Data Response Labour Force Survey (Mar.) The 82,300 increase in employment in March, which was the biggest monthly gain in three-and-a-half years, goes a long way towards making up for the disappointing run of jobs reports going back to the... 5th April 2012 · 1 min read
Canada Data Response GDP by Industry (Jan.) January's 0.1% m/m increase in monthly GDP and upward revision to the final month's growth of last year supports our view that Canada's economy grew more strongly this quarter. Our calculations... 30th March 2012 · 1 min read
Canada Data Response Consumer Price Index (Feb.) February's rise in the official core inflation figure, to 2.3% from 2.1%, will possibly elicit talk of higher interest rates to come. Considering the increasing slack in labour markets and moderate... 23rd March 2012 · 1 min read
Canada Data Response Retail Sales (Jan.) January’s 0.5% m/m increase in retail sales, which was mainly due to sharply higher new vehicle sales, was much weaker than the 2.0% increase we had estimated. The decline in spending elsewhere, which... 22nd March 2012 · 1 min read
Canada Data Response Survey of Manufacturing (Jan.) Although the disappointing 1.1% m/m drop in January's manufacturing sales volumes bodes poorly for GDP, the recent surge in auto sales at least points to much stronger retail and wholesale trade... 16th March 2012 · 1 min read
Canada Data Response International Merchandise Trade (Jan.) January's 2.3% m/m decline in exports, mostly due to lower energy and metal prices, trimmed Canada's trade surplus to C$2.1bn from C$2.9bn. More importantly, export volumes, after increasing strongly... 9th March 2012 · 1 min read
