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 >
pandemic
Trade in 2022: Supply chain challenges and policy implications
Nearly two years after the pandemic shut down the global economy, policymakers are facing a new challenge as global supply chain bottlenecks push up inflation and hamper economic growth. How countries confront these disruptions will have a big impact on economic growth in the coming year. … READ MORE >
Pending home sales in October rebounded to highest in 2021
Pending home sales rebounded by 7.5% in October following a small decline of 2.4% in the previous month, continuing their rise from the recent low in April. … READ MORE >
RSM US Manufacturing Outlook Index: November was a good month
The RSM US Manufacturing Outlook Index in November reached its highest level since the spring, indicating a sustained economic recovery should the health crisis not get in the way. … READ MORE >
Chart of the day: A look at the strategic petroleum reserve
With roughly 1.05 billion barrels in reserve, some of which are used to meet basic demand each year during hurricanes or other periods of stress, the United States is not in a position to influence oil prices beyond the near term by releasing a portion of the strategic petroleum reserve. … READ MORE >
Surprises in jobless claims and goods trade make up for decline in durable goods orders
Encouraging economic news came from the early release of data on Wednesday: Jobless claims dropped to 199,000 last week, the lowest since 1969, while the advance goods trade deficit narrowed significantly to $82.9 billion in October, led by a sharp rise in exports. … READ MORE >
Holiday inventory problem: Some firms are better prepared than others
While the demand for goods remains strong and supplies are constrained, the impact of inventory shortages is in fact uneven across sectors. … READ MORE >
Introducing the RSM Canada Supply Chain Index
The RSM Canada Supply Chain Index accounts for factors affecting the delivery of intermediate goods to manufacturers and service providers, providing an overview of the economic conditions surrounding supply chains and offering a forward look for businesses. … READ MORE >
Chart of the day: Existing home sales inched up in October
Sales of existing homes inched up by 0.8% in October to 6.34 million, carrying some of the momentum in September, when sales jumped by a significant 7.0%, according to data released by the National Association of Realtors on Monday. … READ MORE >
Powell reappointed to lead the Fed, with Brainard elevated to vice chairwoman
The Biden administration’s widely expected reappointment of Jerome Powell as chairman of the Federal Reserve on Monday is a strong step toward providing stability and clarity for financial markets at a time when the central bank is under pressure to accelerate efforts to address inflation. … READ MORE >