• 2019-01-17 12:03

    By Yali N'Diaye

    OTTAWA (MNI) - Statistics Canada will release the December Consumer Price Index Friday morning. Ahead of the release, we highlight five themes for particular attention:

    - Analysts in a MNI survey expect headline unadjusted inflation to decline by 0.4% on the month, repeating November's performance. On a 12-month basis, however, the all-item CPI targeted by the Bank of Canada is expected to stabilize at 1.7%. Should this forecast materialize, it would bring the fourth quarter average to 1.9%, given the 1.7% gain in November and the 2.4% increase in October.

    - A 1.9% fourth quarter average would slightly undershoot the Bank of Canada's projection of 2.0% despite its downward revisions published as recently as January 9.

  • 2019-01-17 11:31

    By Yali N'Diaye

    OTTAWA (MNI) - Statistics Canada said Thursday it is delaying the release of the international merchandise trade until the U.S. Census Bureau resumes its "normal operations."

    The next monthly report was due Feb. 5, 2019 for the month of December 2018.

    "Statistics Canada's present approach, following consultation with stakeholders, is to delay the release of monthly international merchandise trade statistics until the USCB resumes normal operations and a new joint release date is negotiated with the USCB as per the data exchange agreement," the statistical agency said in a statement.

    The U.S. and Canada publish international goods trade statistics the same day each month.

  • 2019-01-15 11:18

    By Yali N'Diaye

    OTTAWA (MNI) - Canada's existing home sales fell for the fourth consecutive month in December, posting a 2.5% decrease from the previous month, data from the Canadian Real Estate Association showed Tuesday.

    On a 12-month unadjusted basis, sales plunged 19%, the largest drop since last March, although the comparison likely suffered from a negative base effect. The government introduced more stringent mortgage-qualification rules in January 2018, leading home buyers to move purchases forward and boosting sales in December 2017.

    Still, the persistence and acceleration of monthly declines since September following a short-lived summer recovery highlights the weakness of the housing market in the face of tighter monetary policy and more demanding mortgag

  • 2019-01-10 10:01

    By Yali N'Diaye

    OTTAWA (MNI) - The value of building permits issued by Canadian municipalities rose 2.6% to C$8.3 billion in November, led by the non-residential sector, data from Statistics Canada showed Thursday.

    Meanwhile, Canada's new housing prices were unchanged for the fourth consecutive month in November, leading to a flat 12-month rate as well, the agency also reported Thursday. Prices had been rising each month since January 2010 on a 12-month basis. They were down 0.9% in December 2009 year-over-year.

    House and land prices were also flat on the month.

    On a 12-month basis, house only prices contracted 0.3%, the largest decrease since December 2009. Land only prices rose 0.5%, following a 0.4% gain in October.

  • 2019-01-09 14:54

    By Courtney Tower

    OTTAWA (MNI) - For Bank of Canada Governor Stephen Poloz, the year ahead in Canada is to be one of temporary early weakness followed by robust GDP growth but with the oil industry notably holding back the economy and policy interest rate hikes.

    The BOC in its quarterly Monetary Policy Report analysis Wednesday inserted the words "over time" as the period that it would take for the intended moves to hike the key rate to the estimated neutral rate of 2.5%-3.5%.

  • 2019-01-09 11:11

    By Courtney Tower

    OTTAWA (MNI) - Following are the key points from the Bank of Canada's interest rate announcement and quarterly economic analysis Wednesday, when the policy interest rate remained at 1.75%, as expected:

    -- While the key BOC rate remains at 1.75%, significant new words have been added to the Bank's past assertions that its rate will have to reach the neutral range of 2.5%-3.5% at some undefined time. Now, the words "over time" have been added. The BOC cited the ever-weaker investment profile of the oil sector, a slowed housing market, and continued uncertainties surrounding global trade.

  • 2019-01-08 09:52

    By Yali N'Diaye

    OTTAWA (MNI) - Canada's merchandise trade deficit widened to C$2.2 billion in November from C$0.9 billion in October, with energy heavily weighing on exports, data released Tuesday by Statistics Canada showed.

    Analysts in a MNI survey had expected a deficit of C$2.2 billion.

    While energy explained a large part of the poor monthly performance, weakness was widespread, as exports contracted in 8 of 11 sections, for an overall decline of 2.9%, the largest drop since July 2017. On a 12-month basis, export growth slowed to 4.4% from 11.4% in October.

    November marked the fourth consecutive monthly decline in exports, which had not been seen since August-November 2015.

  • 2019-01-07 11:41

    By Yali N'Diaye

    OTTAWA (MNI) - The Canadian Ivey Purchasing Managers Index rebounded 2.5 points to 59.7 in December, higher than where it had started the year, although details of the report were not all encouraging, especially when it comes to employment, data released Monday by the Richard Ivey School of Business showed.

    The index remains above the 50 threshold that signals economic expansion, and its increase was consistent with a 0.9-point gain in the price index to 64.6, although the price index ended the year two points below where it had started.

    The PMI index reflects the change in the value of firms' purchases across economic sectors.

    Despite the overall Ivey PMI advance, the employment index decreased for the second consecutive month, and is now at 54.0,

  • 2019-01-04 09:46

    --5 Things We Learned From Canadian Labor Force Survey Data

    OTTAWA (MNI) - The following are the key points from the December data on the Canadian Labor Force Survey released Friday by Statistics Canada:

    - The Canadian economy added 9,300 jobs in December, slightly more than the 6,000 increase expected by analysts in a MNI survey, following a record 94,100 employment gain in November. On a 12-month basis, the Canadian economy added 163,300 jobs, much less than the 427,300 gain recorded the previous year. On the bright side, full-time employment continued to be the main driver of job creation in 2018.

  • 2018-12-24 09:00

    By Yali N'Diaye

    OTTAWA (MNI) - Despite stronger data released on Friday, there are clear signs that lower oil prices are taking a toll on the Canadian economy and should allow the central bank to pause longer before its next rate hike.

    In addition, market volatility and the dimmer Federal Reserve outlook on U.S.