In an effort to target inflation that is at its highest level in decades, the Bank of Canada on Wednesday increased its policy interest rate by 50 basis points, to 1%, and said it would begin to reduce its balance sheet, known as quantitative tightening. … READ MORE >
pandemic
Canada’s GDP rises, led by construction and trade
Canada’s gross domestic product in January had a modest increase of 0.2% from December as the effects of the omicron variant paused growth in the services sector. … READ MORE >
RSM US Manufacturing Outlook Index: Geopolitical tensions and possibility of a midcycle slowdown
The RSM US Manufacturing Outlook Index increased in March but is showing signs of impending economic damage caused by the Russian invasion of Ukraine. … READ MORE >
Chart of the day: Pending home sales drop again in February
Pending home sales in February dipped for the fourth straight month as depleted inventory and rising mortgage rates dampened sales. … READ MORE >
The housing market will endure interest rate hikes
While low interest rates have contributed to the increased demand for housing, the factors driving the market go beyond low rates and include a thriving economy, favorable demographics and a limited supply. … READ MORE >
Protests’ ramifications on the Canadian economy
The trucker convoy has shuttered the Canadian economy, with consequences reaching far beyond cross-border trade and encompassing the supply chain, inflation, the labor market and economic growth. … READ MORE >
U.S. January consumer price index: Inflation continues to surge
The top-line increase of 0.6% in January and 7.5% on a year-ago basis will intensify market speculation about a 50 basis-point hike at the March meeting. … READ MORE >
How construction firms can manage a fractured supply chain
Contractors are telling us that their biggest challenge is getting materials to job sites for installation. Items like structural steel joints, windows and door frames that used to take a couple of days to deliver are now taking months to arrive. … READ MORE >
Acceleration of wage increases raises caution flag for policymakers
The wage component of the index has now accelerated from a 2.5% rate of increase in the third quarter of 2020 to 4.2% a year later and, most recently, to 4.5% in the fourth quarter last year on an annualized basis. … READ MORE >
U.S. December jobs report: Economy has strongest year of job creation on record
The total number of jobs created last year was roughly 6 million as the unemployment rate declined from 6.5% at the start of the year to 3.9%. … READ MORE >