Industry and government data on Wednesday continued to paint a mixed picture of the economy as the end of the business cycle is approaching. The manufacturing sector showed its first monthly contraction following 30 straight months of growth, highlighting the impact of restrictive monetary conditions the Federal Reserve continued to impose on the sector to fight inflation. … READ MORE >
Inflation
Jobs report preview: Strong close to year as wages remain elevated
We expect the December U.S. jobs report on Friday to show an increase in total employment of 220,000 positions. … READ MORE >
Private investment and the reintroduction of risk
Regime changes in global trade, growth and liquidity, along with a significant increase in geopolitical tensions, are reintroducing political and economic risk. … READ MORE >
U.S. becomes the top destination for foreign direct investment
Rising rates, a strong dollar, an innovative economy as well as the rule of law continue to attract significant capital into American-based corporations. … READ MORE >
RSM’s economic outlook for Canada in eight charts
While the Canadian economy may avoid a recession next year, we expect growth will slow below 1% over the next few quarters, well below its long-term capacity. … READ MORE >
Canada inflation eases, but the fight is not over
November’s headline consumer price index in Canada dropped to a 6.8% increase from 6.9% on a year-ago basis, remaining significantly above the 2% target rate. … READ MORE >
Housing starts and permits fall as the correction continues
New housing starts dropped for the third month in a row in November as the housing market continued to be in correction mode. … READ MORE >
Financial conditions and Canada’s real economy
Tightening financial conditions are hurting the Canadian economy to the point where the rising risk of a recession and a housing contraction much larger than anticipated cannot be discounted. … READ MORE >
Retail sales fall more than expected as spending and inflation cool
Retail sales in November posted the sharpest decline of the year, falling by 0.6% as shoppers pulled back from holiday spending. … READ MORE >
FOMC decision: Fed lifts policy rate to range of 4.25% to 4.5%
The Federal Reserve on Wednesday lifted its policy rate by 50 basis points and laid the groundwork for an eventual pause in interest rate increases early next year. … READ MORE >