Canada’s manufacturing sales increased by 0.5% to CA$60.3 billion in August, their highest level on record, according to data released by Statistics Canada on Thursday. This growth was mainly driven by high energy demand and prices. August marked the first month of all provinces lifting most COVID-19 ... READ MORE >
China reacts to energy crunch with coal price reform
The global energy crunch continues, marked by surging commodity prices and building speculation around supply. This week, eyes are on China—the world’s largest exporter of goods—as the country grapples with ongoing shortages and their ripple effect across the nation’s economy and key commodities, ... READ MORE >
Canada’s employment is back to pre-pandemic levels
Most of Canada’s employment statistics in September returned to pre-pandemic levels, clear good news of a recovery, according to data released by Statistics Canada on Friday. Canada added an encouraging 157,000 jobs in September, bringing its total employment to just over the February 2020 level. In a ... READ MORE >
Canada’s trade surplus rose in August with global energy demand
Canada’s merchandise trade surplus widened to CAD $1.94 billion in August thanks to rising global demand for energy amid shortages in other countries, Statistics Canada reported on Tuesday. Canada’s merchandise imports fell by 1.4% and merchandise exports rose by 0.8%, helping widen the ... READ MORE >
Global natural gas prices hit record as middle market girds for difficult winter
Global natural gas prices have climbed to record highs amid soaring demand fueled by the reopening of the economy and tight supplies. As power outages halt manufacturing and threaten climate commitments, businesses and consumers should brace themselves for a difficult winter. Middle market firms ... READ MORE >
Building permits in Canada continued to fall with material shortages
The value of building permits in Canada decreased by 2.1% in August from July to a seasonally adjusted 9.66 billion Canadian dollars as developers continued to feel the effect of supply and labour shortages. August’s decline, which fell short of forecasts, continued the downward trend from the peak in ... READ MORE >
Canada’s GDP showed modest contraction in July
Canada’s gross domestic product contracted by 0.1% in July, continuing the trend from the second quarter, according to government data released Friday. Losses in agriculture, coupled with continued global supply chain issues, wiped out gains in other sectors. This trend undermines the hope of a ... READ MORE >
Flood insurance premiums to increase for coastal property owners
After years of mounting losses from hurricanes and rising water levels, the federal flood insurance program will begin phasing out subsides starting on Oct. 1. The long-sought changes to the National Flood Insurance Program are designed to shift the cost of owning properties in flood-prone areas onto ... READ MORE >
Chart of the day: Canada’s retail sales cool amid bumpy recovery
Continuing what has been a volatile year for consumers, Canada’s retail sales decreased by 0.6% in July compared to June, according to data released on Thursday by Statistics Canada. The decline is just the latest swing in what has been an ever-changing consumer landscape amid uncertainty concerning ... READ MORE >
RSM Canada Financial Conditions Index remains solid as election approaches.
The Trudeau government goes into Monday’s election with momentum behind the prospects for economic growth and with the financial markets in a steady state. As the Bank of Canada noted in its Sept. 8 assessment, “Financial conditions remain highly accommodative.” But will the unintended consequences of ... READ MORE >