Tag Archives: Canada

Economic activity in Canada expanded during February, after contracting in January, data showed on Friday. The seasonally adjusted Ivey Purchasing Managers Index (PMI) surged last month to 60, from 48.4 in January, exceeding the 50 neutral mark. The index also rose on an annual basis, compared with its level at …

Canada’s Real Gross Domestic Product (GDP) expanded by 0.1% in December, the data published by Statistics Canada showed on Tuesday. This reading came in weaker than the market expectation of 0.3%. On a positive note, November’s reading got revised up to 0.8% from 0.7%.

Prices for products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), rose by 2% in January, the data published by Statistics Canada showed on Friday. This reading followed December’s increase of 1.5%.

The Bank of Canada (BoC) has decided on Tuesday to reduce the frequency of its Provincial Bond Purchase Program (PBPP) from two auctions per week to one. The move is consistent with the gradual reduction approach of programs that were introduced to help the Canadian economy cope with the impact …

Retail sales in Canada declined by 3.4% in December to CAD 53.38 billion ($42.37 billion), data by Statistics Canada showed on Friday. This marked the biggest monthly decline in Canadian retail sales since April, as renewed lockdown measures against the Coronavirus vaccines led to the shutdown of many outlets and …

Wholesale Sales in Canada fell by 1.3% in December to $66.5 billion, the monthly report published by Statistics Canada showed on Friday. This reading followed November’s increase of 0.7% and came in better than the market expectation for a decrease of 1.6%.

The Deputy Governor of the Bank of Canada (BoC), Tim Lane, said on Wednesday that cryptocurrencies such as Bitcoin are a flawed payment method, Bloomberg reported. Lane also pointed to the costly verification methods and the digital currencies’ unstable purchasing power. “Our view remains unchanged, a digital currency is by …

Economic activity in Canada continued to contract during January for the second consecutive month, data showed on Friday. Although the seasonally adjusted Ivey Purchasing Managers Index (PMI) increased to a reading of 48.4 last month, from 46.7 in December, it remained below the 50 mark that indicates expansion. The Ivey …

The Unemployment Rate in Canada rose to 9.4% in January from 8.8% (revised from 8.6%) in December with the Net Change in Employment declining more than 212,000 (vs -47.5K expected), the data published by Statistics Canada revealed on Friday. This reading came in worse than the market expectation of 8.9%. 

The headline seasonally adjusted IHS Markit Canada Manufacturing Purchasing Managers’ Index (PMI) declined in January to 54.4 from 57.9 in December, data showed on Monday. However, Canadian manufacturing businesses witnessed a solid expansion in business conditions, especially in the goods-producing sector. Production volumes increased solidly in January, extending the current …