Softer manufacturing sentiment in May is within our expectations as elevated interest rates continue to weigh on overall goods demand. … READ MORE >
Economics
Canada’s economy grew by 0.4%, bolstering case for rate cuts
The economy expanded by 0.4% in the first quarter after no change in the previous quarter, according to data released by Statistics Canada on Friday. … READ MORE >
Spending cools more than expected as Fed contemplates rate cuts
American consumers pulled back in April as a sign of elevated interest rates weighing further on overall demand as the pandemic fiscal supports wane. … READ MORE >
GDP and inflation grew slower than earlier estimates
GDP was revised down to 1.3% from 1.6% earlier, while personal consumption was revised down to 2.0% from 2.5%, according to Commerce Department data released on Thursday. … READ MORE >
Global central bank outlook: Reducing rates to bolster growth
With disinflation having taken hold around the world, it is time for central banks to reduce their restrictive policy rates to promote demand and growth. … READ MORE >
Consumer inflation expectations moderate in May
The University of Michigan reported on Friday that consumer sentiment and inflation expectations improved in the second half of May. … READ MORE >
U.S. new home sales miss forecasts amid rising mortgage rates
New home sales fell below estimates in April as mortgage rates surged to above 7%, the Census Bureau reported on Thursday. … READ MORE >
Canada’s inflation fell to 2.7%, bolstering case for June rate cut
Headline inflation fell to 2.7 per cent, within the 1 per cent to 3 per cent range for the fourth month in a row and the lowest since early 2021. … READ MORE >
Assessing central bank policy in the post-pandemic economy
Stagnant global growth amid a structural economic shift demand a policy response by central banks still attempting to restore price stability. … READ MORE >
Forecasts show softer April PCE inflation
We think the top-line PCE inflation will most likely come in at 0.25% for April, down from 0.30% in March, while the core index will slow to 0.26% from 0.30%. … READ MORE >