Canada Economics Update Provincial growth to weaken further in 2013 The release of the provincial GDP figures for 2012 provides us with more evidence that the resource-rich western provinces were behind the bulk of the slowdown in overall economic growth last year... 29th April 2013 · 1 min read
Canada Economics Weekly Spending abroad pinching domestic retail sales The recent softening in retail sales suggests that household consumption growth has slowed almost to a crawl. Our analysis shows that retailers are struggling partly because households, enticed by the... 29th April 2013 · 1 min read
Canada Economics Update Slowdown in consumption growth is here to stay Although consumption growth was respectable in the second half of last year, the further deceleration in income growth, along with the reported weakness of retail spending, suggests that it has slowed... 25th April 2013 · 1 min read
Canada Data Response Retail Sales (Feb.) February's retail sales volumes, which were unchanged from the month before, suggest that first-quarter household consumption grew somewhat more slowly than in the previous quarter. This supports our... 23rd April 2013 · 1 min read
Canada Economics Weekly Bank overly optimistic about economic outlook The Bank of Canada and, to a lesser extent, the International Monetary Fund still remain overly optimistic about Canada's economic growth outlook. The IMF has acknowledged, however, that the negative... 22nd April 2013 · 1 min read
Canada Data Response Consumer Price Index (Mar.) The official core inflation figure, which held steady at 1.4% in March, is likely to drift lower through this year, as the excess slack in the economy continues to grow due to sluggish economic growth... 19th April 2013 · 1 min read
Canada Economics Focus Canada enjoying wealth advantage over US Based on our calculations of total domestic net worth, Canadians appears to be better off than their seemingly more affluent neighbours to the south. The problem is that the advantage Canada enjoys is... 18th April 2013 · 1 min read
Canada Economics Update Bank of Canada sticks with rate tightening bias The Bank of Canada's decision to stick with its rate tightening bias, despite growing economic slack and below-target inflation, rests uncomfortably on its faith that economic growth will accelerate... 17th April 2013 · 1 min read
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 Economics Update Housing demand likely to soften further The year-on-year drop in existing home sales supports our view that a potentially hard housing market correction is underway. Assuming that home sales continue to trend lower this year, then this will... 15th April 2013 · 1 min read
Canada Economics Weekly Housing starts slump half way done The downward trend in housing starts is not over. While home builders continue to 'adjust' to softening housing demand, the oversupply of new unoccupied housing units are likely to become more... 15th April 2013 · 1 min read
Canada Chart Pack Business pullback could not come at worse time Weaker business investment intentions could not come at a worse time for the domestic economy. With housing investment contracting and governments reining in spending, slower business investment... 11th April 2013 · 1 min read
Bank of Canada Watch Bank edging closer to neutral We don't anticipate any major changes from the Bank of Canada at Governor Mark Carney's penultimate policy meeting next Wednesday (April 17th), but the Bank will be forced to admit in the accompanying... 10th April 2013 · 1 min read
Canada Economic Outlook Economy losing momentum A protracted housing downturn, less supportive growth in business investment and controlled government spending will curb economic growth this year. Thankfully, moderate export growth will bolster an... 9th April 2013 · 1 min read
Canada Economics Update Housing downturn dashing hopes of economic rebound The downward trend in existing home sales, building permits and housing starts suggests that shrinking residential investment will be a drag on GDP growth over the first half of this year. Accordingly... 9th April 2013 · 1 min read
