Canada’s economy continued its gradual recovery as the unemployment rate fell to 6.7% in October, the fifth month of decline in a row, according to data released Friday by Statistics Canada. Canada added 31,200 jobs on the month, little changed from the previous month and a signal that the economy is ... READ MORE >
Canada’s trade surplus widened amid microchip shortage
Canada’s merchandise trade balance had the fourth consecutive month of surplus in September as global supply chain bottlenecks debilitated the automotive industry, according to data released by Statistics Canada on Thursday. Although the surplus widened, the falling of both exports by 2.3% and imports ... READ MORE >
RSM Canada Financial Conditions Index: An inflation tantrum?
Financial markets around the world are reacting to the rising risk of inflation and the prospect of policy responses by central banks, all of which have led to a modest easing in our RSM Canada Financial Conditions Index. The Bank of Canada has already halted its bond purchase plan, the Reserve ... READ MORE >
Multi-family dwellings drive Canada building permit value up 8.2%
The value of building permits in Canada grew to CA$10.14 billion in September, an 8.2% increase compared to August, driven by the increasing value of multi-family residential permits, according to data released by Statistics Canada on Tuesday. That growth marks a reversal from the drop in residential ... READ MORE >
Manufacturing in Canada at seven-month high
Canada’s manufacturing output hit a seven-month high in October as domestic and international demand remained strong despite persistent bottlenecks in the global supply chains. The IHS Markit Canada Manufacturing Purchasing Managers' Index rose to 57.7 on the month, up from 57.0 in September, marking ... READ MORE >
Canada GDP rose 0.4% in August as the economy reopened
Canada’s gross domestic product in August rose by 0.4% to CA$1.97 trillion, led by continued rising demand for client-facing business services, according to data released by Statistics Canada on Friday. The rise in spending on in-person services led the economic recovery, as August marked the first ... READ MORE >
A bumpy path toward a net-zero future
As world energy leaders prepare to kick off a major United Nations conference on climate change on Sunday, the global energy crunch has added a new wrinkle to their ambitions: Nations, to keep their economies on track, are turning back to high-emissions coal as natural gas falls into short ... READ MORE >
Canada retail sales climbed in August as in-person activities picked up
Canada retail sales rose by 2.1% to CA$57.2 billion in August due to increases in both prices and volume of goods sold, according to data released by Statistics Canada on Friday, a promising sign for the country's economic recovery. This increase was observed across all provinces in the first full month ... READ MORE >
Inflation in Canada persists amid shortages
Inflation is proving to be persistent in Canada, with the Consumer Price Index increasing at an annual pace of 4.4% in September amid shortages of workers and supplies. Excluding the volatile food and energy categories, the index rose by a more moderate 3.3% on a year-over-year basis, but it was ... READ MORE >
Housing starts in Canada fall for the fourth consecutive month
Housing starts in Canada fell 4.42% to 251,151 in September, another sign of the continuing shortages of raw materials and labor that have gripped the economy. The drop, the fourth monthly decline in a row, was led by dramatic decreases in Ontario (9,380 units), Alberta (4,730 units) and most notably ... READ MORE >