Canada Economic Forecast
September 27, 2017
GDP growth blew past expectations in Q2 on impressive household spending and a surge in exports, handing Canada the top spot among G7 countries in terms of overall growth in H1. Moreover, household spending grew alongside the household savings rate in Q2, further signaling that heavily leveraged consumers were benefiting from higher wages and steady employment growth rather than leaning on debt. Business investment, plagued in recent years by subdued capital spending in the energy sector, also edged up for a second quarter. On the external side, increased production in the energy sector helped deliver the strongest expansion of exports in three years in Q2, and at long last promised the economy’s complete adjustment to lower oil prices. As expected, however, recent indicators for H2 suggest the economy has been slowing. In August, the Ivey PMI fell for a second consecutive month; the rapid rise in national housing prices also eased once again.Canada Economy Data
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Canada Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.01 | -0.50 % | Oct 17 |
| Exchange Rate | 1.25 | -0.42 % | Oct 18 |
| Stock Market | 15,782 | -0.22 % | Oct 18 |
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Canada Economic Growth
September 27, 2017
Growth is expected to cool through H2 and into next year as household spending eases, but falling unemployment should soften the blow. Brisk global demand is expected to boost energy exports and prop up the external sector, although a strengthening loonie and NAFTA renegotiations could mitigate some of those gains. Moreover, an overheated property market in the face of higher interest rates presents a downside risk to the outlook. Our analysts expect GDP to grow 2.8% in 2017 and 2.1% in 2018, up 0.1 percentage point from last month’s forecast.Canada Economic News
Canada: Monthly GDP growth plummets as oil production, auto manufacturing and residential construction slump in July
September 29, 2017
Following a strong H1 in which the Canadian economy grew at the fastest pace among the G7 economies, momentum appeared to stall in July with a flat monthly GDP growth reading.
Canada: Inflation climbs in August on higher gasoline prices
September 22, 2017
Seasonally-adjusted consumer prices rose 0.2% in August, in line with July’s 0.2% print.
Canada: Climb in national housing prices slows as Toronto prices drop in August
September 13, 2017
In August, the Teranet-National Bank National Composite House Price Index recorded a 0.6% increase from a month earlier, easing from July’s remarkable 2.0% monthly rise. In a notable shift, August’s modest increase in national housing prices came despite falling prices in the Toronto market—which accounts for more than a third of the 11-city composite index.
Canada: Trend in housing starts inches higher in August
September 11, 2017
Seasonally-adjusted annualized housing starts registered a notable 223,200 units in August, according to the Canada Mortgage and Housing Corporation (CMHC).
Canada: Ivey PMI cools off for a second consecutive month in August
September 7, 2017
The Canadian manufacturing sector contracted further in August following a drop in July, according to the Ivey Purchasing Managers Index (PMI), prepared by the Richard Ivey School of Business.
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