Canada’s GDP grew 3.1% in the first quarter of 2022 as business investment and household consumption continued to boom while energy exports dragged, according to data released by Statistics Canada on Tuesday. The figure was in line with the Bank of Canada’s forecast but noticeably under market expectations. While COVID-19 … … READ MORE >
Canada
Rising inflation eases but Canada’s housing remains a concern
While the overall inflation has slowed, hinting at a possible peak in the next few months, the cost of basic necessities like food, housing and gasoline continues to rise. … READ MORE >
Canada’s unemployment rate falls amid a chronic worker shortage
Canada added 15,000 jobs in April and the unemployment rate fell slightly to 5.2% as the job market remained heated, according to data released by Statistics Canada on Friday. … READ MORE >
Canada’s economy continues to show resilient growth
As the number of COVID-19 cases dropped and public health restrictions eased, Canada’s economy grew 1.1% in February, its largest increase in a year and a sign of resilience, according to data released by Statistics Canada on Friday. … READ MORE >
Canada’s supply chain takes a downturn as fuel prices climb
The RSM Canada Supply Chain Index dropped to 2.25 standard deviations below normal in March, a slight downturn from February. … READ MORE >
Canada’s inflation hits 6.7% as the global oil shock sets in
Inflation in Canada hit 6.7% in March, up from 5.7% in February and the largest year-over-year increase since January 1991 as supply chain disruptions, the war in Ukraine and a reopening economy all had an effect. … READ MORE >
Bank of Canada raises rates by a half percentage point
In an effort to target inflation that is at its highest level in decades, the Bank of Canada on Wednesday increased its policy interest rate by 50 basis points, to 1%, and said it would begin to reduce its balance sheet, known as quantitative tightening. … READ MORE >
Canada’s unemployment rate lowest in nearly five decades
Canada added 73,000 jobs in March, a relatively modest gain that still helped push the unemployment rate down to 5.3%, the lowest since 1976. … READ MORE >
Supply shock ripples across agricultural commodities
As Russia’s invasion of Ukraine takes a mounting human and economic toll, it also has the potential to threaten the food supply for millions of people who depend on agricultural commodities from those two countries. … READ MORE >
Canada’s GDP rises, led by construction and trade
Canada’s gross domestic product in January had a modest increase of 0.2% from December as the effects of the omicron variant paused growth in the services sector. … READ MORE >