Canada’s inflation in November remained at 4.7% on an annual basis, primarily because of increasing prices for gasoline, food and shelter, according to data released by Statistics Canada on Wednesday. From the previous month, consumer prices rose slightly, by 0.2%. Excluding food and energy, the ... READ MORE >
omicron variant
Chart of the day: Consumer sentiment improves slightly amid inflation
Consumer sentiment improved slightly in December, increasing from a decade low in November as concerns about gasoline and energy prices eased somewhat, according to the University of Michigan's consumer survey released on Friday. The headline consumer sentiment index rose to 70.4 on the month from 67.4 ... READ MORE >
U.S. Consumer Price Index: Inflation broadens out as shelter costs rise by 4.8%
November inflation data, rising by 6.8% on the year, offered no relief for American households as energy and transportation costs continued to drive prices higher. While there is some relief over the horizon on both fronts—falling oil and gasoline prices, as well as the return of North American ... READ MORE >
Initial jobless claims fall to 52-year low amid labor shortages
New filings for jobless benefits dropped to the lowest level since 1969 last week as robust labor demand continued to leave businesses with no choice but to hold on to their workers. The claims fell to 184,000 for the week ending Dec. 4, down from 227,000 in the previous week, according to Labor ... 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. The central bank’s policy rate decision and forecast, on the back of a ... READ MORE >
Our economic outlook for Canada in 2022
Canada’s economy had a bumpy ride in the past year, as the promise of mass vaccinations was followed by supply chain disruptions, a global energy crisis and rising inflation. Looking ahead to next year, we see a Canadian economy continuing to recover, even as businesses and consumers contend with ... READ MORE >
Chart of the day: With oil prices elevated, will U.S. production follow?
The high price of gasoline has become a major economic concern for Americans. Rising energy prices are expected to restrict household spending and disproportionately hit low-income consumers. Given the decline in oil prices over the past two weeks, gasoline prices are expected to follow, which ... READ MORE >
Five things we don’t know about omicron: Week of November 29
This week it is unavoidable not to mention omicron and so we’ve decided to dedicate our issue of “5 things in life sciences” to this very topic. In a twist from all of the articles about “what we know” about the new variant, however, we thought the community would be better served to talk about what we ... READ MORE >
Chart of the day: Service sector expands at record pace
The shift back to spending on services continued to accelerate in November as the headline purchasing managers’ index for services reached an all-time high, according to data released by the Institute of Supply Management on Friday. The headline index rose to 69.1 on the month from 66.7, the third ... READ MORE >
Canada’s unemployment rate approaches pre-pandemic level
Canada added 153,700 jobs in November, bringing the unemployment rate down to 6% as it approaches the pre-pandemic level, according to data released by Statistics Canada on Friday. The report was a sign that Canada’s heated labour market was finally benefiting workers who have been left out of the ... READ MORE >