While uncertainty plagues Canada’s trade outlook, a relatively low U.S. effective tariff rate means things might not be as bleak as they seemed back in March. … READ MORE >
Industrials
Canada’s unemployment rate hits 7% despite some resilience
Despite some economic resilience, Canada’s unemployment rate hit 7 per cent as the damage from tariffs and trade uncertainty permeates the labour market. … READ MORE >
Market Minute: May jobs report to reflect a modest cooling
We expect a gain of 125,000 jobs and a modest increase in the unemployment rate to 4.3% when the U.S. employment report for May is released on Friday. … READ MORE >
Tariffs weigh on manufacturing and construction
The impact of tariffs on manufacturing activity was in full force in May, according to business executives surveyed by the Institute for Supply Management, as falling demand and rising prices occurred simultaneously. … READ MORE >
Canada’s economy grows 0.5% in 1st quarter due to exports, but challenges loom
Canada’s economy grew in the first quarter largely due to pre-tariff efforts, but ongoing uncertainty means the economy is expected to contract next quarter. … READ MORE >
Inflation falls in Canada as end of consumer carbon tax offsets other increases
Canada’s consumer price index (CPI) fell to 1.7% in April thanks to the removal of the consumer carbon price and lower crude oil prices. For now, price increases associated with U.S. tariffs seem to have been kept at bay. The end of the consumer carbon tax should continue to apply … … READ MORE >
Market Minute: Canada’s trade diversification away from U.S. as tariff pain remains
Canada’s latest trade data provides an indicator of the diversification away from U.S. dollar-denominated assets as tariff tensions continue to simmer between the longtime trade partners. In March, Canada’s merchandise exports to countries other than the U.S. surged by 24.8 per cent on a month-over-month basis—the second-largest increase in recorded … … READ MORE >
Canada’s weakened financial conditions point to slower growth
Canada’s financial conditions have deteriorated as the prospect of slower economic growth looms in the coming quarters amid tariff-induced uncertainty. … READ MORE >
Market Minute: U.S. heavy truck sales point to slowing economy
Production and sales of heavy trucks are slowing ahead of the shocks linked to tariffs and what will be further declines in demand by households and commercial ventures, data shows. … READ MORE >
Tariffs begin to show their impact on business spending
But when orders for new aircraft from Boeing are stripped away, American businesses’ new spending on equipment looked weak in March as uncertainty around trade policy heightened. … READ MORE >