Canada Rapid Response Canada GDP (Q2 2025) The contraction in second-quarter GDP was due to a large drag from net trade, which is unlikely to be repeated, but the downward revision to monthly GDP in Jun and preliminary July estimate showing... 29th August 2025 · 3 mins read
Canada Rapid Response Canada Retail Sales (June 2025) The strong rebound in June retail sales should reassure the Bank of Canada that consumer spending is holding up, although the flash estimate of a drop back in sales in July implies that growth remains... 22nd August 2025 · 2 mins read
Canada Rapid Response Canada Consumer Prices (Jul. 2025) July’s softer core price data, combined with favourable downward revisions to previous months’ figures, leave the three-month annualised average rate of CPI-trim and CPI-median at a more modest 2.4%... 19th August 2025 · 3 mins read
Canada Rapid Response Canada Manufacturing Sales (Jun. 2025) The small rebound in manufacturing sales in June will provide little relief, given that it barely offsets the weakness in April and May and the breakdown shows that US tariffs still have some sectors... 15th August 2025 · 2 mins read
Canada Rapid Response Canada Labour Force Survey (Jul. 2025) The Labour Force Survey has once again made a mockery of the economist consensus, with the surprise 83,000 surge in employment in June followed by a 40,800 slump last month. We are now a bit more... 8th August 2025 · 2 mins read
Canada Rapid Response Canada International Trade (Jun. 2025) The small deterioration in Canada’s goods trade balance in June was driven by a large one-off import of a module for an offshore oil project in Newfoundland. The deterioration may have reversed in... 5th August 2025 · 2 mins read
Canada Rapid Response Canada GDP (May 2025) The back-to-back GDP declines in April and May look slightly less concerning in light of June’s preliminary estimate showing a 0.1% m/m gain, suggesting the earlier weakness was partly a hangover from... 31st July 2025 · 2 mins read
Canada Rapid Response Bank of Canada Policy Announcement (Jul 2025) The Bank of Canada kept interest rates unchanged at 2.75% for a third consecutive meeting today as it awaits greater clarity over the country’s future trading terms with the US. The communications... 30th July 2025 · 3 mins read
Canada Rapid Response Canada Retail Sales (May 2025) The flash estimate showing a solid rise in retail sales in June, paired with the recent rebound in consumer confidence, suggests the decline in sales in May was more a reflection of demand normalising... 24th July 2025 · 2 mins read
Canada Rapid Response Canada Consumer Prices (Jun. 2025) The above-target monthly gains in CPI-trim and CPI-median in June leave the three-month annualised pace of those averaged measures holding uncomfortably high at 3.5%, meaning the door is now firmly... 15th July 2025 · 3 mins read
Canada Rapid Response Canada Labour Force Survey (Jun 2025) The strong 83,100 rise in employment and the dip in the unemployment rate in June suggests the labour market is in better shape than we had feared, despite ongoing uncertainty around Canada’s trade... 11th July 2025 · 2 mins read
Canada Rapid Response Canada International Trade (May) While the headline export number for May shows significant improvement from a grim April, this was mostly driven by volatile gold exports, where non-mineral product exports declined in the month... 3rd July 2025 · 2 mins read
Canada Rapid Response Canada GDP (Apr. 2025) The worse-than-expected 0.1% m/m contraction in GDP in April and equivalent sized estimated fall in May suggests that growth was flat at best in the second quarter, with a clear risk of a contraction... 27th June 2025 · 2 mins read
Canada Rapid Response Canada Consumer Prices (May 2025) The Bank’s preferred CPI-trim and CPI-median core measures rose by a smaller 0.21% m/m on average in May, with the three-month annualised rate declining to 3.0%, but that is probably still too high... 24th June 2025 · 2 mins read
Canada Rapid Response Canada Retail Sales (Apr 2025) The rise in retail sales in April showed consumer spending remained resilient to tariffs at the start of the second quarter. That said, the grisly flash estimate for May suggests the economy will slow... 20th June 2025 · 2 mins read
Canada Rapid Response Canada Manufacturing Sales (Apr. 2025) Manufacturing sales volumes plunged in April as the temporary boost to exports from tariff front-running unwound. Prospects for a meaningful rebound over the coming months look slim, with new orders... 13th June 2025 · 2 mins read
