Although high oil and gas prices had been good news for the Canadian economy over the past few decades, this time is different. … READ MORE >
Bank of Canada raises rates in response to inflation
The Bank of Canada announced on Wednesday that it would raise its overnight rate to 0.5%, 25 basis points from the lower bound policy rate of 0.25%, to tackle inflation. … READ MORE >
Canada’s growth picked up at end of last year as economy reopened
The Canadian economy ended last year on a strong note, expanding by 4.6% in 2021 on an annual basis thanks to a reopening economy. … READ MORE >
Canada’s supply chain worsens amid omicron’s spread
RSM Canada’s Supply Chain Index worsened to 1.84 standard deviations below zero in January, down from a revised 1.36 standard deviations below neutral in December as the omicron variant spread across Canada and the world. … READ MORE >
Canada’s retail sales slump because of omicron
Retail sales in Canada plunged by 1.8% in December across all provinces as the spread of the omicron variant hurt holiday shopping. … READ MORE >
This week in energy: Jet fuel demand, oil and gas earnings, ESG metrics
In this week’s energy industry analysis, we take a look at the jet fuel demand landscape, fourth-quarter earnings reports for oil and gas companies, and the first oil and gas producer in North America to issue a sustainability-linked bond. … READ MORE >
Inflation in Canada surpasses 5% amid broad price increases
Households continued to feel the impact of rising prices for essential items, with food up by 5.7%, shelter rising by 6.2% and gasoline increasing by 31.7% on a year-over-year basis.
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Protests’ ramifications on the Canadian economy
The trucker convoy has shuttered the Canadian economy, with consequences reaching far beyond cross-border trade and encompassing the supply chain, inflation, the labor market and economic growth. … READ MORE >
Canada runs a trade deficit as imports surge
Canada’s merchandise trade balance in December turned deficit after six consecutive monthly surpluses as imports of consumer goods surged and oil prices dropped. … READ MORE >
Although U.S. jobs report outshined Canada’s, Canadian outlook remains promising
As the initial shock of the Feb. 4 Canadian jobs report wears off, it’s clear that Canada is still firmly on the road of strong economic growth in 2022 and is still in step with the United States. … READ MORE >