Sales of new homes increased by 4.4% in July to 714,000, according to Commerce Department data released on Wednesday. … READ MORE >
Economics
Canada retail sales edge higher, bolstered by car purchases
Retail sales in Canada climbed by 0.1% to $65.9 billion in June, with all of the gain attributed to higher sales of motor vehicles and parts. … READ MORE >
Existing home sales fall near January low as rates surge
July sales were much lower than expected, dropping by 2.2% on the month compared to a forecasted decline of only 0.2% earlier. … READ MORE >
Industrial production and housing rebound in July, affirming GDP growth outlook
Industrial production, housing starts and permits rebounded in July, affirming RSM’s third-quarter GDP growth outlook. … READ MORE >
Robust retail sales data in July raises Q3 GDP forecast
American consumers continued to show a robust spending appetite in July as sales from retail and food services came in much hotter than expected. … READ MORE >
Canadian inflation ticks up but underlying data may bode well for interest rates
Canada’s July inflation figures are a somber reminder that the road back to 2% will take time and patience. … READ MORE >
Producer prices, consumer sentiment data show signs of more price stability
Together with Thursday’s data on the consumer price index, this indicates that the bar for another rate hike in September is getting higher. … READ MORE >
Near-target inflation fuels hope of soft landing for economy
Inflation stabilized further in July as the consumer price index data met expectations, the Bureau of Labor Statistics reported on Thursday.
The slight uptick in annual inflation to 3.2% from 3.0% could be dismissed due to the base year effect, as inflation has come down fast from a peak in June last year. … READ MORE >
Rates outlook: As economy enters glide path, bond market hedges its bets
Even as the economy shows positive trends like slowing inflation and a healthy labor market, the bond market is showing anxiety. … READ MORE >
Canadian economic outlook: Defying expectations
In our updated economic forecast, we have downgraded the probability of a recession in Canada over the next 12 months to 60%, from 75%. … READ MORE >