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 >
coronavirus
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 >
Chart of the day: Decline in initial jobless claims slows
New filings for jobless claims showed little change for the week ending Nov. 13 with a decrease of 1,000 from the prior week to 268,000, marking an easing in the pace of declines from early October. … READ MORE >