Canadian Housing Market Paused In July Despite the continued decline in interest rates, the Canadian housing market saw summer doldrums last month. The Canadian Real Estate Association (CREA) announced today that national home sales fell 0.7% monthly while rising 4.8% from year-ago levels. A significant uptick in sales activity is likely this fall, reflecting both Bank of Canada easing and […]
Weaker-Than-Expected July Jobs Report Keeps BoC Rate Cuts In-Play Canadian employment data, released today by Statistics Canada, showed a continued slowdown, which historically would have been a harbinger of recession. This cycle, immigration has augmented the growth of the labour force and consumer spending, forestalling a significant economic downturn. Employment declined again in July, down 2.8K. The employment rate—the proportion of […]
Canadian Inflation Fell in June, Setting the Stage For BoC Rate Cut Inflation unexpectedly slipped 0.1% (not seasonally adjusted) in June, following a 0.6% increase in May. This was the first decline in six months. The monthly decrease was driven by lower prices for travel tours (-11.1%) and gasoline (-3.1%). The Consumer Price Index (CPI) rose 2.7% year over year in June, down from a […]
Early Signs Of Renewed Life In June Housing Markets The Canadian Real Estate Association (CREA) announced today that national home sales rose 3.7% between May and June following the Bank of Canada’s rate cut. While activity was still muted, it wasn’t nearly as weak as the media recently portrayed. “It wasn’t a ‘blow the doors off’ month by any means, […]
Weaker-Than-Expected June Jobs Report Keeps BoC Rate Cuts In Play Canadian employment data, released today by Statistics Canada, showed a marked slowdown, which historically would have been a harbinger of recession. This cycle, immigration has augmented the growth of the labour force and consumer spending, forestalling a significant economic downturn. Nevertheless, the Bank of Canada will continue to cut interest […]