Reporting on Sherry
August 30, 2024
Category: About Sherry Articles Media Reporting on Sherry
Canadian Q2 Real GDP Growth A Bit Stronger Than Expected, But Per Capita Real GDP Falls for The Fifth Consecutive Quarter
Q2 Canadian Growth, Boosted By Record Population Gains, Slows In June And July Canada’s economy grew a bit more than expected in the second quarter, but falling per-capita gross domestic product and softening household consumption assure the Bank of Canada that it will cut rates for a third consecutive meeting next week. Canadian GDP rose 2.1%…
August 20, 2024
Category: About Sherry Articles Media Reporting on Sherry
Canadian Inflation Cools to 2.5% y/y in July, Insuring BoC Rate Cut on Sept 4
More Good News On The Canadian Inflation Front Inflation in Canada decelerated once again in July to its slowest pace in three years, assuring the central bank will cut rates for the third consecutive meeting on September 4. The US is also widely expected to begin easing monetary policy at its September confab. The annual…
August 15, 2024
Category: About Sherry Articles Media Reporting on Sherry
Canadian Housing Market On Pause In July
Canadian Housing Market Paused In July Despite the continued decline in interest rates, the Canadian housing market saw summer doldrums last month. The Canadian Real Estate Association (CREA) announced today that national home sales fell 0.7% monthly while rising 4.8% from year-ago levels. A significant uptick in sales activity is likely this fall, reflecting both…
August 9, 2024
Category: About Sherry Articles Media Reporting on Sherry
Canadian Employment Growth Stalled In July, While the Jobless Rate Held Steady at 6.4%
Weaker-Than-Expected July Jobs Report Keeps BoC Rate Cuts In-Play Canadian employment data, released today by Statistics Canada, showed a continued slowdown, which historically would have been a harbinger of recession. This cycle, immigration has augmented the growth of the labour force and consumer spending, forestalling a significant economic downturn. Employment declined again in July, down…
July 16, 2024
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Canadian Inflation Decelerates to 2.7%
Canadian Inflation Fell in June, Setting the Stage For BoC Rate Cut Inflation unexpectedly slipped 0.1% (not seasonally adjusted) in June, following a 0.6% increase in May. This was the first decline in six months. The monthly decrease was driven by lower prices for travel tours (-11.1%) and gasoline (-3.1%). The Consumer Price Index (CPI) rose 2.7% year over year…
July 12, 2024
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June Home Sales in Canada Show Early Signs Of A Pick-Up After BoC Easing
Early Signs Of Renewed Life In June Housing Markets The Canadian Real Estate Association (CREA) announced today that national home sales rose 3.7% between May and June following the Bank of Canada’s rate cut. While activity was still muted, it wasn’t nearly as weak as the media recently portrayed. “It wasn’t a ‘blow the doors…
July 5, 2024
Category: About Sherry Articles Media Reporting on Sherry
Weaker-than-expected Jobs Report Keeps Further BoC Rate Cuts In Play
Weaker-Than-Expected June Jobs Report Keeps BoC Rate Cuts In Play Canadian employment data, released today by Statistics Canada, showed a marked slowdown, which historically would have been a harbinger of recession. This cycle, immigration has augmented the growth of the labour force and consumer spending, forestalling a significant economic downturn. Nevertheless, the Bank of Canada…
June 25, 2024
Category: About Sherry Articles Media Reporting on Sherry
Canadian CPI Inflation Rose in May, Reducing the Chances of a July Rate Cut
Canadian Inflation Rose In May, Surprising Markets Inflation unexpectedly rose in May, disappointing the Bank of Canada as it deliberates the possibility of another rate cut next month. The Consumer Price Index (CPI) rose 2.9% in May from a year ago, up from a 2.7% reading in April. This increase primarily reflects higher prices for…
June 17, 2024
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Canadian Housing Market Was Quiet In May
May Was Another Sleepy Month For Housing The Canadian Real Estate Association (CREA) announced today that national home sales fell 0.6% in May, remaining slightly below the average of the past ten years. Actual (not seasonally adjusted) monthly activity was 5.9% below May 2023. With the Bank of Canada rate cut on June 5, housing activity…
June 7, 2024
Category: About Sherry Articles Media Reporting on Sherry
May employment growth in Canada stalled as the unemployment rate ticked up to 6.2%
May Jobs ReportIn the first major data release since the Bank of Canada cut interest rates on Wednesday, Statistics Canada Labour Force Survey for May showed a marked slowdown from the April surge. Employment was little changed and the employment rate fell 0.1 percentage points to 61.3%, the seventh decrease in the past eight months. The…