A colder-than-normal January pushed industrial production up significantly as utility production rose 9.9% on the month—the highest rate on record. … READ MORE >
Coronavirus
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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Retail sales outpace inflation in January despite omicron surge
Inflation and the omicron surge did not deter American consumers from beginning the year on a strong note as retail sales rebounded sharply in January. Purchases at retail stores, restaurants and online rose 3.8%, outstripping inflation for the first time in three months. … READ MORE >
Energy shock: Potential impact of Russian invasion of Ukraine
A Russian invasion of Ukraine would shave a little less than 1% from gross domestic product over the next year and cause inflation to rise by close to 2.8 percentage points to over 10%. … READ MORE >
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 >
U.S. January consumer price index: Inflation continues to surge
The top-line increase of 0.6% in January and 7.5% on a year-ago basis will intensify market speculation about a 50 basis-point hike at the March meeting. … READ MORE >
Chart of the day: New jobless claims continue to fall
New filings for jobless benefits dropped by 16,000 to 223,000 for the week ending Feb. 5 on a seasonally adjusted basis, only 5,000 from reaching its pre-pandemic level of 218,000. … READ MORE >
How construction firms can manage a fractured supply chain
Contractors are telling us that their biggest challenge is getting materials to job sites for installation. Items like structural steel joints, windows and door frames that used to take a couple of days to deliver are now taking months to arrive. … READ MORE >
Chart of the day: U.S. trade deficit widens
The U.S. trade deficit widened in December for the second straight month as domestic demand for imported goods ended the year on a strong note. … 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 >