Tag Archives: Canada

Wholesale sales in Canada increased over the month of May by 5.7% to $52.6 billion, data by Statistics Canada showed on Friday. This comes after wholesales sales fell during April, due to the outbreak of the coronavirus disease (COVID-19), by 21.4%. However, May’s reading missed market expectations which suggested an …

Employment in Canada increased by about 1.043 million jobs in June, compared to May, according to the June ADP Canada National Employment Report. Although jobs in manufacturing decreased by 57,000, jobs in construction increased by 171,000. Meanwhile, the largest increase was in the trade, transportation, and utilities with 347,200 new …

The Bank of Canada (BoC) plans to maintain its main interest rate near zero until the 2% inflation target is sustainably achieved. This comes as the BoC decided to maintain its benchmark interest rate at 0.25% on Wednesday BoC is also committed to buying $3.7 billion worth of Canadian government …

Factory sales in Canada increased by a record 10.7% during May, after falling in April by 27.9%, according to data by Statistics Canada on Wednesday. Manufacturing sales were 28.4% below their level in February, before the COVID-19 crisis emerged. A majority of market analysts believe that it would take at …

Net change in employment in Canada increased more than expected as Statistics Canada reported on Friday that net change in employment in Canada rose by 953,000 in June, bringing the unemployment rate down to 12.3% from 13.7% recorded in May. However, the unemployment rate came out worse than the market’s …

Seasonally adjusted Canadian Ivey Purchasing Managers’ Index (PMI) rose to 58.2 in June from 39.1 in May, versus a consensus expectation of 25.1. The index give a signal of economic recovery, after passing the 50-point mark for the first time since February, with economic activity slowing down during the past …

Moody’s Investors Service expects the Canadian economy to contract by 7% in 2020 due to the COVID-19 pandemic, Reuters reported. Canadian provinces are expected to stabilize their rising debt burdens once economic growth resumes, according to Moody’s, however, the rating agency sees all 10 provinces posting deficits in the fiscal …

The overall Business Outlook Survey indicator fell sharply, with most constituent indicators declining to levels well below their historical averages, according to the Bank of Canada (BoC) Business Outlook Survey for the summer of 2020. Businesses in Canada expect weakness in domestic and foreign demand due to the effects of …

Markit Manufacturing PMI for Canada recovered in june. The Canadian Manufacturing PMI reported a contraction of economic activity recording 47.8 in May, compared to 40.6 in June. “The latest Canada Manufacturing PMI highlights a vastly improved situation in comparison to that seen over the previous three months,” said Tim Moore, Economics …