Canada Data Response GDP by Industry (Apr.) Canada's monthly real GDP was unchanged in April, held back by a 6.9% m/m drop in motor vehicle production. Growth should pick up again in the next few months, however, as the supply disruptions that... 1st July 2011 · 1 min read
Canada Data Response Consumer Price Index (May) The increase in the headline CPI inflation rate to an eight-year high of 3.7% in May, from 3.3%, and the pick up in the core inflation rate to a seven-month high of 1.8%, from 1.6%, will no doubt... 30th June 2011 · 1 min read
Canada Data Response Retail Sales (Apr.) April's retail sales provide more evidence of the negative effects that high energy and rising food prices are having on discretionary consumer spending. Considering that preliminary data for May's... 23rd June 2011 · 1 min read
Canada Data Response Survey of Manufacturing (Apr.) April's survey of manufacturers showed that sales fell sharply, down 1.3% m/m, primarily due to disruptions in auto production, caused by parts supply shortages from Japan. Taking into account an even... 16th June 2011 · 1 min read
Canada Data Response Labour Force Survey (May) At first glance May's labour force survey appears respectable, with 22,300 jobs added and a material drop in the unemployment rate, from 7.6% to 7.4%. The details, however, are not as encouraging and... 11th June 2011 · 1 min read
Canada Data Response International Merchandise Trade (Apr.) April’s trade data show that, despite a massive drop in imports from Japan, Canada's trade deficit actually widened. The drop in imports, concentrated in Japan and other OECD countries, was... 10th June 2011 · 1 min read
Canada Data Response GDP (Q1 2011) The pick up in GDP growth to 3.9% annualised in the first quarter, from 3.1% in the fourth quarter, is unlikely to be sustained. With the temporary boost to growth from sharply higher energy and auto... 30th May 2011 · 1 min read
Canada Data Response Retail Sales (Mar.) The latest retail sales data confirm that real consumption growth slowed to just above 1% annualised in the first quarter, well below the 5% pace seen in the final three months of last year. Given the... 20th May 2011 · 1 min read
Canada Data Response Consumer Price Index (Apr.) Consumer price inflation remained at 3.3% in April, though still up from 2.3% just three months ago. Measures of underlying inflation, more importantly, remained subdued. Provided that inflation... 20th May 2011 · 1 min read
Canada Data Response Survey of Manufacturing (Mar.) March's survey of manufacturers offers some encouraging news in the form of higher sales volumes and a jump in unfilled orders. With autos production operating at lower levels due to parts supply... 16th May 2011 · 1 min read
Canada Data Response International Merchandise Trade (Mar.) Following the boost from a rebound in energy output late last year, export growth held up relatively well in Q1, thanks in part to a rebound in the auto sector. March’s trade data suggest the economy... 11th May 2011 · 1 min read
Canada Data Response Labour Force Survey (Apr.) April's job figures provide some comfort that economic growth held up towards the end of the first quarter, following February's decline in monthly GDP. Given the slowdown we expect in the US later... 6th May 2011 · 1 min read
Canada Data Response GDP by Industry (Feb.) After several months of very strong growth, the 0.2% m/m decline in Canada monthly GDP in February is not a major concern. We had anticipated a drop back and even the consensus forecast was for no... 29th April 2011 · 1 min read
Canada Data Response Retail Sales (Feb.) The latest retail sales data add to the evidence that real consumption growth slowed to around 2% annualised in the first quarter, less than half the 5% pace seen in the final three months of last... 21st April 2011 · 1 min read
Canada Data Response Consumer Price Index (Mar.) The pass through of higher commodity prices was behind the jump in CPI inflation, to 3.3% in March from 2.2% in February. Considering the temporary nature of these supply shocks, however, we still don... 19th April 2011 · 1 min read
Canada Data Response Labour Force Survey (Mar.) March's employment report was disappointing to everyone, with net employment edging lower by 1,500 jobs. Although the unemployment rate nudged lower, from 7.8% to 7.7%, this came about by way of fewer... 8th April 2011 · 1 min read
