Canada’s headline inflation rate declined to 3.8% in September from 4.0% in August, reversing the upward trend of the past three months and a sign of progress in the Bank of Canada's efforts to restore price stability. On a month-over-month basis, the consumer price index dropped by 0.1% for the first ... READ MORE >
Canada
Amid Canada’s housing crunch, some move in with other generations
As Canada grapples with an acute shortage of housing, some residents are embracing a shift toward multigenerational residences. This phenomenon, which includes multiple generations of adults living under one roof, is being driven in no small part by necessity as younger buyers and new arrivals to ... READ MORE >
Canada has an acute shortage of housing. Easing regulations would help solve that.
Canada’s housing crisis keeps getting worse. The latest Housing Supply Report by the Canada Mortgage and Housing Corporation concluded that the level of new construction is too low to address the long-term housing supply gap. The housing supply grew by only 1% in the first half of this year, ... READ MORE >
Canada’s job market remains resilient, adding 64,000 jobs
The Canadian economy remained resilient in September, adding 64,000 jobs as the unemployment rate was unchanged at 5.5%, according to data released Friday by Statistics Canada. There were two reasons that the unemployment rate stayed the same despite the job gains: population growth and a slowdown in ... READ MORE >
Canada’s economy was unchanged in July
Canada’s gross domestic product in July remained unchanged, adding to the prospect that the economy can achieve a soft landing and avoid a recession. The data released by Statistics Canada on Friday offered a picture of an economy holding its own even as it cools. Services-producing industries grew by ... READ MORE >
Canada inflation surges 4%, exceeding forecasts
Inflation in Canada spiked far more than forecast in August, raising the prospect of another interest rate increase by the Bank of Canada. Even though inflation was expected to increase because of rising gas prices, higher rents and comparisons to the moderate levels of a year ago, the 4% ... READ MORE >
Soft landing likely as Canada added 40,000 jobs in August
A look at August’s job report reveals clear signs of a soft landing. Canada added 40,000 jobs, smashing expectations, and offset the modest loss in July many times over. The unemployment rate was unchanged at 5.5%, according to data released on Friday by Statistics Canada. Immigration has played a ... READ MORE >
Bank of Canada holds rates steady amid a cooling economy
The Bank of Canada kept its policy rate at 5% on Wednesday as the unexpected contraction of the economy in the second quarter gave a clear message of a cooling economy. The central bank’s decision to keep rates steady also suggested that its campaign of rate increases might be over, rendering a rate ... READ MORE >
Canada welcomes immigrants, but their skills are underused
While many developed economies grapple with the challenges of their aging populations, Canada has turned to a bold strategy—using immigration to foster growth. Immigration is widely regarded as central to Canada’s economic development. Last year, Canada welcomed 405,000 permanent residents, the ... READ MORE >
Canada retail sales edge higher, bolstered by car purchases
Retail sales in Canada climbed by 0.1% to $65.9 billion in June, according to data released by Statistics Canada on Wednesday. Despite the slight increase, the new data offers evidence of cooling consumer demand. The increase was entirely driven by the sales of motor vehicles and parts. Excluding motor ... READ MORE >