Economic News and Forecasts
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Q2 2020 GDP Released by Stats Can - and as Expected, It's Not Good News
Aug 28, 2020 | Economic News and ForecastsStatstics Canada reported on Canadian Q2 GDP today. The economy shrank by 11.5% compared to Q1 - an annualized decline of 38.7%. This is marginally better than predicted in July (see below), but still "the steepest [decline] since quarterly data were first recorded in 1961"...
May 2020 GDP Grows; Stats Can Releases Flash Estimates for June and Q2
Jul 31, 2020 | Economic News and ForecastsStatistics Canada today released their May GDP figures, showing growth of 4.5% over April, with 17 of 20 industrial sectors posting increases. Non-residential construction was up 56.7%, as all three subsectors (industrial, commercial and institutional) recorded double-digit increases...
Bank of Canada Holds Interest Rates, Forecasts GDP Decline in 2020 of Almost 8%
Jul 15, 2020 | Economic News and ForecastsThe Bank of Canada today held interest rates steady at 0.25%, which it calls the effective lower bound. In its release announcing the rate, the Bank said "The Governing Council will hold the policy interest rate at the effective lower bound until economic slack is absorbed...
Government of Canada Releases Economic and Fiscal Snapshot
Jul 15, 2020 | Economic News and ForecastsThe Government of Canada (Department of Finance) last week released an economic and fiscal snapshot for Canada's economy in the wake of COVID-19. They are forecasting a contraction in GDP for 2020 of 6.8% followed by growth of 5.5% in 2021. This is generally within the ranges...
April 2020 GDP and Flash Estimate for May Released
Jun 30, 2020 | Economic News and ForecastsStatistics Canada today released April 2020 GDP figures. Their earlier "flash" estimate called for a decline of 11% compared to March, but the results were actually marginally lower than that, at -11.6%. The carnage was widespread, with all 20 reporting sectors seeing declines...
June 2020 Economic Forecast
Jun 29, 2020 | Economic News and ForecastsFearlessly looking into our crystal ball, DHI Canada has prepared an economic review and updated forecast for the balance of 2020 and into 2021.
StatsCan Releases March 2020 GDP and Flash Estimate of April 2020 GDP
Jun 1, 2020 | Economic News and ForecastsStatistics Canada released a "flash" estimate for April 2020's Gross Domestic Product, forecasting an 11% decline for the month compared to March. They note that this is a preliminary estimate and that it will be revised as more information becomes available...
Q1 2020 GDP Down, But Not As Far As Expected
May 28, 2020 | Economic News and ForecastsStatistics Canada today released figures for the first quarter's GDP. They show a decline of 2.1% compared to Q4 2019, or an annualized decrease of 8.2%, due to COVID-19. Pundits had expected a 10% annualized decline, so the damage is not as severe as originally anticipated...
2020 Economic Forecast
Jan 1, 2020 | Economic News and ForecastsOur 2020 economic forecast, written in November 2019 and published in Door Security + Safety magazine's January issue calls for moderate growth in 2020's Canadian GDP (1.4%) amid a general softening of the economy. At the time, we identified uncertainty around pending resolution...
Q3 2019 GDP Growth Rate Slows, As Expected
Dec 4, 2019 | Economic News and ForecastsStatistics Canada released Q3 GDP figures on Friday. Overall, they show a moderated growth rate of 1.3% (quarter over quarter, seasonally adjusted at annual rates [SAAR]). Of interest to DHI-C members, non-residential building activity showed annualized growth of 11.1%...