Canada’s housing starts fell to 267,443 in August, a 3% drop from July, continuing the decline in the housing sector because of rising interest rates. … READ MORE >
Inflation
Industrial production falls for the first time since June
Industrial production fell by 0.2% in August, the first decline in three months, amid a slowdown in manufacturing and a sharp drop in electricity production. … READ MORE >
Retail sales rebound on strong autos spending
The U.S. retail sales picked up slightly in August, rising by 0.3%, according to government data released on Thursday. … READ MORE >
Producer prices ease as energy costs fall
Prices paid to domestic producers deflated for the second month in a row as energy prices continued to fall and food prices remained unchanged. … READ MORE >
The dollar’s reign will continue amid a global flight to safety
Several factors are fueling the dollar’s surge, including rising rate differentials, a global move to the dollar and escalating geopolitical tensions. … READ MORE >
U.S. August CPI: Core inflation arrives hot even as gas prices fall
Premature calls for the Fed to pause its campaign to tame inflation should be politely dismissed given the 0.1% increase in top-line inflation in August. … READ MORE >
Canada’s jobless rate rises off its record low
Canada lost 40,000 jobs in August, bringing the unemployment rate up to 5.4% from its record low in July as construction and education led the declines. … READ MORE >
European energy crisis: A quandary with no good policy options
Short-term price caps as the best way—or, put more accurately, the least bad way—to mitigate the price shocks of the energy crisis in Europe and to prevent wider declines in aggregate demand. … READ MORE >
Initial jobless claims drop to lowest level since May
The labor market showed continuing strength as last week’s new filings for jobless claims fell for the fourth week in a row. … READ MORE >
Bank of Canada increases policy rate to 3.25%
The Bank of Canada increased its policy rate by 75 basis points on Wednesday, bringing the overnight rate to 3.25%, and said that it would continue to reduce its balance sheet. … READ MORE >