8 Sep

Weak August Jobs Report in Canada Bodes Well for a BoC Rate Cut

General

Posted by: Ryan Roth

Today’s Labour Force Survey for August was weaker than expected, indicating an excess supply in the labour market and the economy. Employment fell by 66,000 (-0.3%) in August, extending the decline recorded in July (-41,000; -0.2%). The employment decrease in August was mainly due to a decline in part-time work (-60,000; -1.5%). Full-time employment was little changed in August, following […]

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2 Sep

Tariff Turmoil Takes Its Toll

General

Posted by: Ryan Roth

Statistics Canada released Q2 GDP data, showing a weaker-than-expected -1.6% seasonally adjusted annual rate, in line with the Bank of Canada’s forecast, but a larger dip than the consensus forecast. The contraction primarily reflected a sharp decline in exports, down 26.8%, which reduced headline GDP growth by 8.1 percentage points. Business fixed investment was also weak, contracting 10.1%, […]

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18 Aug

Canadian Homebuyers Return in July, Posting the Fourth Consecutive Sales Gain

General

Posted by: Ryan Roth

Last week’s release of the July housing data by the Canadian Real Estate Association (CREA) showed good news on the housing front. Following a disappointing spring selling season, National home sales were up 3.8% in July from the month before, with Toronto seeing transactions rebound 35.5% since March. However, the total number of Toronto sales […]

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11 Aug

Canada’s July Labour Force Survey Was the Weakest Since 2022

General

Posted by: Ryan Roth

Employment fell by 40,800 jobs in July, a weak start to the third quarter, driven by decreases in full-time work, with most of the decline in the private sector. The jobless rate held steady at 6.9%, even though the number of unemployed people fell. The monthly decline was the largest since January 2022, and excluding […]

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5 Aug

Economic Insights from Dr. Sherry Cooper

General

Posted by: Ryan Roth

Most market participants did not expect the Bank of Canada to cut rates in late July. Incoming economic data paint a somewhat stronger picture. Consumer sentiment remains relatively weak in the face of considerable tariff uncertainty, despite the record highs achieved by both the US and Canadian stock markets. Business investment has slowed considerably, and […]

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30 Jul

Bank of Canada Holds Rates Steady As Tariff Turmoil Continues

General

Posted by: Ryan Roth

As expected, the Bank of Canada held its benchmark interest rate unchanged at 2.75% at today’s meeting, the third consecutive rate hold since the Bank cut overnight rates seven times in the past year. The Governing Council noted that the unpredictability of the magnitude and duration of tariffs posed downside risks to growth and lifted […]

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14 Jul

Canada’s Economy Shows Amazing Resilience in June

General

Posted by: Ryan Roth

The Canadian economy refuses to buckle under the weight of tariff uncertainty and further potential tariff hikes. The Labour Force Survey, released this morning for June, showed a surprising net new job gain of 83,100 positions, the most significant number of jobs this year. A whopping 84% of the employment gain was in part-time work. […]

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7 Jul

Dreaming of a Vacation Home? Here’s What You Need to Know.

General

Posted by: Ryan Roth

If you’re interested in buying a vacation home, there is a lot to consider. A good first step to purchasing any vacation home is to think about your 5- and 10-year plan. Will you get enough use out of it? Do you have other more immediate or important financial goals? What’s the opportunity cost? If […]

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30 Jun

Canada Is Headed For A Moderate Economic Contraction in Q2

General

Posted by: Ryan Roth

Real gross domestic product (GDP) edged down 0.1% in April, following a 0.2% increase in March. The preliminary estimate for May was also -0.1%. April and May were months of the most significant tariff uncertainty–both auto, steel, and aluminum tariffs were announced during this period. The 0.1% drawdown in April GDP had a wide variety of special factors at […]

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24 Jun

Today’s Report Shows Inflation Remains a Concern

General

Posted by: Ryan Roth

The Consumer Price Index (CPI) rose 1.7% year-over-year in May, matching the 1.7% increase in April. A reduced rent price increase and a decline in travel tour prices put downward pressure on the CPI in May compared with one year earlier. Smaller declines for gas and cellular services put upward pressure on the index compared with the […]

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