Building permits in Canada increased in March compared with the month before, data showed on Tuesday. In March, the total value of Canadian building permits surged by 5.7% on a monthly basis to reach a seasonally adjusted level of CAD 10.9 billion, according to data by Statistics Canada. February’s reading …
Read More »Canada’s Trade Balance Turns to Deficit in March
Canada’s imports increased by 5.5% in March, while exports leveled up by 0.3%, data by Statistics Canada showed on Tuesday. Accordingly, the Canadian international merchandise trade balance returned to a deficit position, following two consecutive monthly trade surpluses. Canada registered a trade deficit of CAD 1.1 billion in March, compared …
Read More »Canada Manufacturing PMI Declines in April
The headline Canada Manufacturing Purchasing Managers’ Index (PMI) registered a seasonally adjusted reading of 57.2 in April, down from 58.5 in March. The reading signals the third-strongest growth in operating conditions on record, according to IHS Markit’s report released on Monday. “April data signaled another robust overall expansion in operating …
Read More »Canada’s Retail Sales Grow in February
Canada’s retail sales increased by 4.8% to $55.1 billion in February, data showed on Wednesday. Core retail sales rose by 3.8% in February, registering its first monthly increase after two consecutive declines, according to data by Statistics Canada. A preliminary reading for March indicate a 2.3% increase. In volume terms, …
Read More »Canada’s Employment Insurance Expands in February
The number of Canadians receiving regular employment insurance benefits increased by 3.6%, or 53,000, to 1.5 million people in February, data showed on Thursday. The reading follows an 11.2% increase in January, according to data by Statistics Canada. The Labour Force Survey (LFS) showed that employment increased by 259,000 in February, following two months …
Read More »Canada’s New Housing Price Index Rises in March
Canada’s New Housing Price Index (NHPI) rose by 7.9% on an annual basis during March, data by Statistics Canada showed on Thursday. On a monthly basis, the index increased by 1.1%. “The strong demand for new houses, fueled by lower borrowing costs and work from home restrictions, continued pushing up …
Read More »A Closer Look at the Bank of Canada Policy Statement
The Bank of Canada (BoC) The Bank of Canada (BoC) has decided to maintain its key interest rate unchanged at a record low of 0.25%, as the economy remains in need of support, according to the bank’s statement following its monetary policy meeting on Wednesday. The Canadian central bank expects …
Read More »BoC Holds Interest Rates Unchanged
The Bank of Canada (BoC) has decided to maintain its key interest rate unchanged at a record low of 0.25%, as the economy remains in need of support, according to the bank’s statement on Wednesday. Now the Canadian central bank expects to keep the current level of interest rates until …
Read More »Canada’s Inflation Rises in March to 2.2%
Canada’s Consumer Price Index (CPI) increased to 2.2% on an annual basis in March, data by Bank of Canada (BoC) showed on Wednesday. The acceleration in the inflation rate last month comes following a reading of 1.1% in February. Furthermore, the CPI stabilized at 0.5% on a monthly basis. As …
Read More »Canada: Annual CPI Rises to 2.2% in March
Annual inflation in Canada, as measured by the Consumer Price Index (CPI), rose to 2.2% in March from 1.1% in February. This reading came in slightly lower than the market expectation of 2.3%. On a monthly basis, the CPI stayed unchanged at 0.5%. Moreover, the Bank of Canada’s Core CPI, …
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