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August GDP Growth Disappoints; Q3 Estimate Not Rosy Either
Oct 29, 2021 | Economic News and ForecastsStatistics Canada today released the August GDP figures, showing growth of 0.4% over July. This contrasts with their flash estimate of 0.7% (see below). The August increases was fueled by growth in services-producing industries, which were up 0.6%; goods-producing industries fell 0.1%...
Bank of Canada Announcement on Interest Rates Sounds a Hawkish Note
Oct 27, 2021 | Economic News and ForecastsThe Bank of Canada announced today that, while it was maintaining the interest rate at the effective lower bound of 0.25%, it was ending its quantitative easing (QE) program and moving to "reinvestment only" - purchasing Government of Canada bonds solely to replace maturing bonds...
Stats Can Says July GDP Better Than Flash Estimate; Releases August Flash Estimate
Oct 1, 2021 | Economic News and ForecastsStatistics Canada today released the July GDP figures. While their flash estimate called for a decline of 0.7%, the actual decrease was only 0.1%; 13 of 20 industrial sectors showed increases, led by accommodation and food services. Construction fell by 0.9%, due largely to a decline in...
A "No News" Announcement from the BoC on Interest Rates
Sep 8, 2021 | Economic News and ForecastsThe Bank of Canada (BoC) held the line on interest rates today and is making no change to its quantitative easing (QE) program. Interest rates remain at the effective lower bound of 0.25% and QE stays at $2 billion per week. The BoC's announcement noted the decline in Q2 GDP...
Stats Can Announces Q2 2021 and June 2021 GDP, and Provides Flash Estimate for July
Aug 31, 2021 | Economic News and ForecastsStatistics Canada announced today that Q2 2021 GDP fell by 0.3% compared to Q1. This is an annualized rate of decline of 1.2%. It follows three consecutive quarters of GDP growth after the Q2 2020 pandemic-related decline of 11.3%. Investment in non-residential construction increased...
GDP News from Statistics Canada - April, May and June
Jul 30, 2021 | Economic News and ForecastsStatistics Canada today released its May GDP figures, revised April GDP and provided a preliminary estimate for June. StatsCan originally reported a 0.3% decline in April GDP (story below); this has been revised downward to 0.5%. May, as they had forecast, came in down 0.3%...
DHI-C's July 2021 Economic Review and Forecast
Jul 8, 2021 | Economic News and ForecastsDHI Canada is pleased to release our latest economic review and forecast - considerably sunnier than that of December 2020, thanks to the global economic recovery, the apparent retreat of COVID-19 and the accompanying reopening of the economy. There may still be some unevenness ahead...
April 2021 GDP Report from Statistics Canada
Jun 30, 2021 | Economic News and ForecastsStatistics Canada released its April GDP figures today. GDP shrank in April by 0.3% - well below the initial expectation of a 0.8% contraction. This is the first decline in GDP after 11 months of growth. Non-residential building construction grew by 1.1% in the month...
Revised 2020 GDP Figures, with Provincial Breakdowns, Released by Statistics Canada
May 3, 2021 | Economic News and ForecastsStatistics Canada released revised GDP figures for 2020 today, changing shrinkage in the economy to 5.3% from the 5.4% reported in March. The provincial/territorial GDP breakdown showed all provinces down compared to 2019, with only the Yukon (1.1% growth) and Nunavut (3.5% growth)...
Bank of Canada Ups 2021 GDP Growth Estimate
Apr 22, 2021 | Economic News and ForecastsThe Bank of Canada yesterday announced it is continuing to keep interest rates at the lower effective bound of 0.25% and is scaling back its quantitative easing (QE) support - purchases of Government of Canada bonds - from $4 billion to $3 billion per week, effective April 26...