August CPI Growth Decelerated to Slowest Pace since February 2021

Canadian Economics    September 17, 2024

The growth of Canada’s CPI reached 2.0 per cent year-over-year in August, hitting the Bank of Canada’s target. The milestone highlights the progress made in bringing the pace of price growth down after it peaked at 8.1 per cent (y/y) in June 2022. Lower gasoline prices were the primary driver of the deceleration in August.

Quick take  •  2-min read
Kiefer Van Mulligen

Petroleum and Coal Shipments Stoked Manufacturing Sales in July

Canadian Economics    September 16, 2024

Manufacturing sales rebounded partially in July after a notable decline in June. Sales of chemical, petroleum and coal products contributed the most to overall growth. The expansion of petroleum and coal sales helped Saskatchewan’s manufacturing sales growth to top the chart in July. Sales of non-durable goods (+2.7 per cent) were far stronger than sales of durable goods (+0.1 per cent).

Quick take  •  2-min read
Kiefer Van Mulligen

Unemployment Rate Slides Up Again in August

Canadian Economics    September 6, 2024

In August, for the fourth consecutive month, employment in Canada was little changed. Another rise in the unemployment rate was recorded, bringing the rate to 6.6 per cent. Job growth remains in a rut amid subdued hiring, particularly across the private sector.

Quick take  •  2-min read
Liam Daly

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