August 7, 2020

Category: About Sherry Articles Media Reporting on Sherry

New Mortgage Professionals Canada Report

Dr. Sherry Cooper was recently featured in the Mortgage Broker News in an article discussing the Rapidly Evolving Expectations in the Housing Market, a New Mortgage Professionals report based on a survey of Canadian consumers. Among non-homeowners, the expectation of buying in the next year has doubled, from 7 per cent at the end of…

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July 31, 2020

Category: About Sherry Articles Media Reporting on Sherry

Canada’s Economy Is Outperforming the US

Canadian Economy Recovers Almost Half Its COVID-Induced Loss in May and June The Canadian economy bounced back sharply in May and June as Canadian provinces eased lockdown measures. GDP expanded 4.5% in May, and activity in June was even more robust at an estimated 5% rise. Cumulatively, GDP rose 10% in May and June, after…

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July 15, 2020

Category: About Sherry Articles Media Reporting on Sherry

Bank of Canada Holds Rates Steady and Continues QE Program

Bank of Canada Holds Target Rate Steady Until Inflation Sustainably Hits 2% The Bank of Canada under the new governor, Tiff Macklem, wants to be “unusually clear” that interest rates will remain low for a very long time. To do that, they are using “forward guidance”–indicating that they will not raise rates until capacity is…

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July 15, 2020

Category: About Sherry Articles Media Reporting on Sherry

Canadian Home Sales Up Again in June

Housing Market Continued Its Rebound in June and Early July There was more good news today on the housing front. Home sales rebounded by a further 63% in June, returning them to normal levels for the month–150% above where they were in April when the pandemic-induced lockdown paralyzed the economy (see chart below). Data released this morning…

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July 10, 2020

Category: About Sherry Articles Media Reporting on Sherry

Strong June Jobs Report in Canada

Robust Jobs Report in June, Much Better Than Expected The June Labour Force Survey, released this morning by Statistics Canada, reflects labour market conditions as of the week of June 14 to June 20. By that time, public health restrictions had been eased in most parts of the country. Tighter restrictions remained, however, in much of southwestern…

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July 8, 2020

Category: About Sherry Articles Media Reporting on Sherry

Fiscal Snapshot: Much Larger Deficit and Debt than Expected

Astonishing Fiscal Red Ink Announced Today Finance Minister Bill Morneau presented his fiscal snapshot this afternoon. Most economists were expecting a budget deficit of roughly $260 billion. Instead, the government announced a deficit for the fiscal year 2020-21 of $343.2 billion–close to 16% of GDP. That compares to the $34.4 billion deficit projected before the…

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July 6, 2020

Category: About Sherry Articles Media Reporting on Sherry

Bank of Canada Business Sentiment Lowest Since 2009

Canadian Business Sentiment Is Negative  The Bank of Canada released its Summer Business Outlook Survey (BOS)* this morning, covering an interview period from mid-May to early June. In all provinces and all sectors, the sentiment was hugely negative owing to the impact of the pandemic and falling oil prices.  Since the previous survey, conducted before concerns about…

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July 2, 2020

Category: About Sherry Articles Media Reporting on Sherry

Special Guest on The Everyday Millionaire Podcast

Dr. Sherry Cooper was recently featured on Episode #92 of The Everyday Millionaire podcast where she discussed various insights about the current economic situation, the power of PIVOT and focusing on the way forward. Click here to listen to the full episode. “Everybody needs to keep feeing their minds and their bodies healthfully and… continue…

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June 30, 2020

Category: About Sherry Articles Media Reporting on Sherry

The Globe and Mail: Housing Outlook

In case you missed it, Dr. Sherry Cooper was recently featured on The Globe and Mail’s Housing Outlook webcast. This discussion called on various experts to outline the impacts of the pandemic on housing, along with potential paths forward. The discussion also included updates on the economic effects of COVID-19, housing market forecasts and government…

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June 30, 2020

Category: About Sherry Articles Media Reporting on Sherry

Canadian GDP Plunges in April With Modest Uptick in May

Canada’s Economy Plunged 11.6% in April The pandemic shutdown put every sector of the economy into a medically induced coma, so it was no surprise that the first full month of lockdown would be ugly. Indeed, consensus estimates were worse than the 11.6% drop in economic activity reported this morning by Statistics Canada (see chart below)….

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