The American consumer has held up remarkably well during the recent surge in inflation. But that was not the case in November as the pace of spending moderated to an 0.3% increase, which is likely because of an adjustment to rising prices. … READ MORE >
coronavirus
Chart of the day: Consumer sentiment improves slightly amid inflation
The headline consumer sentiment index rose to 70.4 on the month from 67.4 previously, and only 0.1 higher than August when the delta variant’s surge hit the United States. … READ MORE >
Bank of Canada decision: Central bankers set the stage for 2022 rate hikes
The Bank of Canada kept its policy rate at 0.25% at its December meeting on Wednesday as it prepares the public and market participants for the normalization of monetary policy and the first increase in interest rates next year. … READ MORE >
Our economic outlook for Canada in 2022
We see a Canadian economy growing around 4% on the year, inflation hitting 5% before easing to 2% by year’s end, and the unemployment rate declining to just above 6%. … READ MORE >
Chart of the day: With oil prices elevated, will U.S. production follow?
Our model of the relationship between wholesale gasoline futures and retail gasoline prices implies a decline of 15% to 20% from the current national average of $3.36 per gallon. … READ MORE >
Canada’s unemployment rate approaches pre-pandemic level
Canada added 153,700 jobs in November, bringing the unemployment rate down to 6% and approaching the pre-pandemic level, according to data released by Statistics Canada on Friday. … READ MORE >
November U.S. job data: A tale of two reports as unemployment rate fell to 4.2%
The labor market is tightening, and wages are rising in what is the best labor market for workers since the late 1990s. … READ MORE >
Initial jobless claims tick up but labor market remains tight
New filings for jobless claims rose on a seasonally adjusted basis to 222,000 for the week ending Nov. 27, beating expectations and continuing an overall improvement of the labor market. … READ MORE >
Chart of the day: U.S. consumer confidence inches down
Consumer confidence inched down in November to 109.5, the lowest since March, as inflation continued to take its toll. … READ MORE >
Canada’s GDP rose at 5.4% annual rate as economy reopened
Canada’s gross domestic product grew by a strong 5.4% in the third quarter on an annual basis and by 1.3% from the previous quarter as spending on in-person services rose … READ MORE >