Economic News and Forecasts
News Categories
A Bundle of Economic News!
Sep 13, 2023 | Economic News and ForecastsSeptember 13, 2023 - GDP growth slowed slightly in Q2; annualized, it fell by 0.2%. June GDP was down by 0.2% compared to May. The Bank of Canada held interest rates steady at 5.00%. Unemployment in August was unchanged at 5.5%. Tougher times ahead?
The Economy Is On Fire (Sort Of)
Jul 28, 2023 | Economic News and ForecastsJuly 28, 2023 - Statistics Canada released May GDP results, showing the economy is still hot - in more ways than one.
May Building Construction Data Released
Jul 20, 2023 | Economic News and ForecastsStatistics Canada released its May 2023 investment in building construction data. Overall, investment fell by 1.2% compared with June 2023, driven by a decrease of 1.7% in residential construction. Non-residential construction investment remained largely unchanged...
BoC Raises Rates as Expected
Jul 13, 2023 | Economic News and ForecastsThe Bank of Canada (BoC) raised its key overnight rate by 25 basis points to 5.00% yesterday. This increase, which follows a similar one in June (below), was widely expected. The BoC's announcement pointed to stronger-than-expected growth in the economy this year...
April GDP and May GDP Estimate Released
Jun 30, 2023 | Economic News and ForecastsStatistics Canada issued the GDP report for April today, showing no change from March. Note, however, that April saw the strike at CRA, and this pulled GDP down; without the strike, GDP would likely have increased again, by about 0.1%...
Inflation Slows in May, But Is It Enough?
Jun 27, 2023 | Economic News and ForecastsStatistics Canada released the May inflation figures today. The headline Consumer Price Index (CPI) rose by 3.4% in May (vs. May 2022), down from April's 4.4%. However, excluding gasoline, the May increase was 4.4% following April's 4.9%...
Bank of Canada Boosts Bank Rate
Jun 7, 2023 | Economic News and ForecastsIn a move that caught several pundits off guard, the Bank of Canada (BoC) raised its benchmark rate by 25 basis points to 4.75%. What was surprising was the timing - many felt that, while an increase was in the cards, it wouldn't happen until the July meeting...
Q1 2023 GDP Surprise!
Jun 1, 2023 | Economic News and ForecastsStatistics Canada announced the Q1 GDP results yesterday - GDP grew by an annualized 3.1% in the quarter (versus the estimate of 2.4% noted in the article below), driven almost entirely by January growth (revised upward again to 0.7%) - March was flat (0.0% change)...
February GDP, January GDP Revision and March/Q1 Projection
Apr 28, 2023 | Economic News and ForecastsStatistics Canada came out with a basket of news today - some good, some not so good, but nothing outright bad or ugly. January GDP was revised upward to 0.6% from 0.5%. For February, growth was a more modest 0.1% - well down from their flash estimate of 0.5%...
January GDP Up by 0.5%
Mar 31, 2023 | Economic News and ForecastsStatistics Canada released January 2023 GDP, showing a 0.5% increase over December. Seventeen of twenty industrial sectors posted increases, indicating the gains were fairly evenly spread. Non-residential building construction grew by 0.3% - it's second consecutive rise...