Economics

Canadian Monthly Real GDP (January 2020)

Posted on Mar 31, 2020 in Economics

Canadian Monthly Real GDP (January 2020)The Canadian economy grew 0.1 per cent on a monthly basis in January as weather and labour disputes offset more positive developments in some sectors. Before the abrupt change in the world economy due to the COVID-19 outbreak, the Canadian economy was set to grow a solid 1.8 per cent in the first quarter. We may start to see the impact of COVID-19...

Read More

Bank of Canada Interest Rate Announcement

Posted on Mar 27, 2020 in Economics

Bank Of Canada Interest RatesFor the second time this month, the Bank of Canada has lowered its overnight policy rate before its regularly scheduled announcement date, taking the overnight rate down a further 50 basis points to 0.25 per cent. That level is what the Bank considers its effective lower bound, meaning it can not reduce rates further without potentially disrupting...

Read More

Canadian Retail Sales (January 2020)

Posted on Mar 20, 2020 in Economics

Canadian Retail Sales (January 2020)A weak report to start off 2020. Seasonally-adjusted Canadian retail sales were up by 0.4% in January at $52 billion. The rise in January was driven by auto dealers and gas stations. Minus these two sub-sectors and sales were down 0.3% in the month. Sales were up in 4 of 11 sub-sectors, representing 48% of retail sales. The impact of COVID-19 on th...

Read More

Canadian Inflation (February 2020)

Posted on Mar 18, 2020 in Economics

Inflation with Real Estate in VancouverCanadian inflation, as measured by the Consumer Price Index (CPI) rose by 2.2 per cent in February year-over-year, down from a 2.4 per cent increase in January. Excluding the impact of gasoline prices, national CPI rose by 2.0 per cent year-over-year, matching last month's increase. Gas prices rose less on a year-over-year basis as a result of lowe...

Read More

Canadian Housing Starts (February 2020)

Posted on Mar 10, 2020 in Economics

Canadian Housing Starts Feb 2020Canadian housing starts decreased by 1.9% m/m in February to 210,069 units at a seasonally adjusted annual rate (SAAR). The decrease was driven by Quebec. The trend in national housing starts fell, averaging about 209,000 units SAAR over the past six months.

In BC, housing starts rose by 52% m/m to 39,968 units SAAR, which follows last month's 39...

Read More

Canadian Employment (February 2020)

Posted on Mar 07, 2020 in Economics

Canadian Employment Numbers Feb 2020Canadian employment was little changed in February, increasing by 30,000 jobs (0.2%). The unemployment rate increased by 0.1 percentage points to 5.6%, as more people searched for work. This report does not yet account for impacts arising from COVID-19 due to the survey's timing.

Regionally, increases were primarily in Quebec (20,000), Alberta (11...

Read More