Retail sales in Canada plunged by 1.8% in December across all provinces as the spread of the omicron variant hurt holiday shopping. … READ MORE >
Economics
As inflation has risen, companies ask: ‘Can I really raise my prices?’
As businesses consider raising prices, there are more dynamics at play than just rising costs. Businesses need to take a broader view as they assess whether now is the time to make such price hikes. … READ MORE >
Chart of the day: U.S. housing permits reach 15-year high
Housing starts declined by 4.1% in January on an annualized rate. But housing starts remained well above the long-term equilibrium for housing supply of around 1.5 million a year. … READ MORE >
Initial jobless claims rise unexpectedly
New filings for jobless claims rose unexpectedly last week because of large jumps in Missouri and Ohio. New claims advanced to 248,000 from an upwardly revised 225,000 the week before. … READ MORE >
Chart of the day: U.S. industrial production rebounds
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 >
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 >