Canada Data Response Labour Force Survey (Jun.) The stronger-than-expected rise in employment in June confirms that labour shortages are not holding back the recovery, but the weakness in hours worked still suggests there are downside risks to our... 9th July 2021 · 2 mins read
Canada Data Response Business Outlook & Consumer Expect. Surveys (Q2) The Bank of Canada’s latest surveys show more evidence of inflationary pressures building but, given firms and consumers expect higher inflation to be temporary, the Bank is unlikely to be too... 5th July 2021 · 2 mins read
Canada Data Response International Trade (May) Exports were weaker than expected in May, but that was largely due to the ongoing global semiconductor shortage rather than weakening external demand. And with the rise in imports boding well for... 2nd July 2021 · 2 mins read
Canada Data Response GDP by Industry (Apr.) The 0.3% m/m decline in GDP in April was smaller than Stats Can initially suggested and implies that, despite the third coronavirus wave, the economy held up relatively well. We now expect second... 30th June 2021 · 2 mins read
Canada Data Response Retail Sales (Apr.) The recent lockdowns caused retail sales to plunge by 5.7% in April and the preliminary estimate implies they fell sharply in May as well. The outlook is much brighter, with the record level of... 23rd June 2021 · 2 mins read
Canada Data Response Consumer Prices (May) The rise in inflation to 3.6% in May was driven by several factors including ongoing global supply constraints, the booming housing market, and the start of the re-opening process. While inflation is... 16th June 2021 · 2 mins read
Canada Data Response Manufacturing Sales (Apr.) Manufacturing sales volumes slumped 3.3% m/m in April, as the disruption from the global semiconductor shortage intensified. While sales volumes should gradually rise again from May, it will be some... 14th June 2021 · 2 mins read
Canada Data Response International Trade (Apr.) The global semiconductor shortage weighed heavily on exports and imports of motor vehicles in April and this disruption continued in May. While exports elsewhere performed better, the broad-based... 8th June 2021 · 2 mins read
Canada Data Response Labour Force Survey (May) The continued coronavirus restrictions caused employment to fall for the second month running in May but, with re-opening now underway across the country, employment should rise strongly in the coming... 4th June 2021 · 2 mins read
Canada Data Response GDP (Q1) The first-quarter data confirm that the economy took the second coronavirus wave in its stride but, with the preliminary estimate showing that GDP fell in April, the third wave has been much more... 1st June 2021 · 2 mins read
Canada Data Response Retail Sales (Mar.) After reaching a record high in March, the preliminary estimate suggests that the lockdowns caused retail sales to slump in April. There is likely to be only a small rise this month given stores have... 21st May 2021 · 3 mins read
Canada Data Response Consumer Prices (Apr.) The large 0.6% m/m seasonally-adjusted rise in prices in April shows that the jump in inflation to 3.4% was not due to base effects alone. With firms’ selling price expectations elevated, we expect... 19th May 2021 · 2 mins read
Canada Data Response Manufacturing Sales (Mar.) The 2.3% m/m rise in March was not enough to prevent manufacturing sales volumes from falling during the first quarter. The sector should perform better in the second quarter, but sales volumes are... 14th May 2021 · 3 mins read
Canada Data Response Labour Force Survey (Apr.) The third coronavirus wave caused the labour market recovery to go into reverse in April and, with no imminent sign of the restrictions being eased, there is little chance of a meaningful rebound this... 7th May 2021 · 2 mins read
Canada Data Response International Trade (Mar.) The much stronger rise in imports than exports in March partly reflects the unwinding of temporary factors that weighed on imports in February. Net trade contributed positively to first-quarter GDP... 4th May 2021 · 2 mins read
Canada Data Response GDP by Industry (Feb.) At 0.4% m/m in February, GDP growth was a bit weaker than Stats Can first thought but, with the preliminary estimate pointing to a much larger 0.9% m/m rise in GDP in March, first-quarter growth... 30th April 2021 · 2 mins read
