Author: Dr. Sherry Cooper

15 Sep 2020

Another Record-Setting Month For Canadian Housing

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Canadian Housing Market Sets Record Highs in August Today’s release of August housing data by the Canadian Real Estate Association (CREA) showed a blockbuster August with both sales and new listings hitting their highest levels in 40 years of data–exceeding the record July activity levels. This continues the rebound in housing that began four months ago. Read More

9 Sep 2020

Bank of Canada Holds Rate At 25 bps

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Bank of Canada Relies on Quantitative Easing As promised, the Bank held its target overnight rate at the effective lower bound of 25 basis points with the clear notion that negative policy rates are not in the cards. Instead, the central bank will rely on large-scale asset purchases–quantitative easing (QE–of at least $5 billion per Read More

4 Sep 2020

Strong August Jobs Report in Canada

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Canada Has Recouped Two-Thirds Of Pandemic Job Losses The August Labour Force Survey, released this morning by Statistics Canada, reflects labour market conditions as of the week of August 9 to 15, five months after the onset of the COVID-19 economic shutdown. By mid-August, public health restrictions had substantially eased across the country and more businesses and Read More

28 Aug 2020

Canadian Q2 GDP Growth Plunge–Rebounds Since April

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Canadian Economy Took a Record Nosedive in Q2  Canadian real GDP plunged 11.5% in the second quarter, or -38.7% at an annualized rate, the worst quarterly decline on record (see chart below). This followed an 8.2% plunge in Q1. The worst of the contraction occurred early in the quarter as the lockdown in March and Read More

17 Aug 2020

Record-Setting Canadian Housing Market in July

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Canadian Housing Market Very Strong in July Today’s release of July housing data by the Canadian Real Estate Association (CREA) showed a blockbuster July with both sales and new listings hitting their highest levels in 40 years of data. This continues the rebound in housing that began three months ago. National home sales rose 26% Read More

12 Aug 2020

COVID Supercharges Canadian Housing– Yet CMHC Still Gloomy

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Pandemic Triggers Red-Hot Summer Housing Market We will get the full story on July housing in Canada when the Canadian Real Estate Association releases its July data in the next few days, but local real estate boards have reported a robust July market. Even in Calgary, year-over-year sales have jumped by double digits. Sales in Read More

7 Aug 2020

Great News On The Job Front In July

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Better-Than-Expected Canadian Jobs Report in July Shows Economy’s Resilience The July Labour Force Survey, released this morning by Statistics Canada, reflects labour market conditions as of the week of July 12 to 18. Although public health restrictions had been substantially eased in most parts of the country—with the exception of some regions of Ontario, including Toronto—some Read More

31 Jul 2020

Canada’s Economy Is Outperforming the US

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Canadian Economy Recovers Almost Half Its COVID-Induced Loss in May and June The Canadian economy bounced back sharply in May and June as Canadian provinces eased lockdown measures. GDP expanded 4.5% in May, and activity in June was even more robust at an estimated 5% rise. Cumulatively, GDP rose 10% in May and June, after Read More

15 Jul 2020

Bank of Canada Holds Rates Steady and Continues QE Program

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Bank of Canada Holds Target Rate Steady Until Inflation Sustainably Hits 2% The Bank of Canada under the new governor, Tiff Macklem, wants to be “unusually clear” that interest rates will remain low for a very long time. To do that, they are using “forward guidance”–indicating that they will not raise rates until capacity is Read More

15 Jul 2020

Canadian Home Sales Up Again in June

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Housing Market Continued Its Rebound in June and Early July There was more good news today on the housing front. Home sales rebounded by a further 63% in June, returning them to normal levels for the month–150% above where they were in April when the pandemic-induced lockdown paralyzed the economy (see chart below). Data released this morning Read More

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