Canada Data

  • 2016-06-22 08:32


    By Yali N'Diaye

    OTTAWA (MNI) - Canadian retail sales recovered 0.9% in April to C$44.3 billion, as expected, erasing the unrevised 0.8% decrease in March, largely benefitting from a boost in gas prices that sent gasoline receipts up 6.0% in April, the largest monthly gain since June 2009, Statistics Canada reported Wednesday.

    Gains were relatively widespread, however, with seven of 11 subsectors reporting higher sales, representing 64% of retail trade, lifting the year-over-year sales growth pace to 4.6% from 3.5% in March.

    That being said, April's rebound was mostly a price story, as real sales edged up just 0.1% on the month, following a 1.1% drop in March.

    Analysts in a MNI survey had expected total sales to rise 0.9%.

  • 2016-06-20 08:33


    By Yali N'Diaye

    OTTAWA (MNI) - Canada wholesale sales disappointed once again with a 0.1% monthly increase in April to C$54.8 billion, down 0.2% from a year ago, the largest 12-month decrease since June 2013, Statistics Canada reported Monday.

    Analysts in a MNI had expected a 0.5% increase in April.

    While the 0.1% advance was smaller than anticipated, it was slightly offset by an upward revision to March's reading to -0.8% from -1.0%. February was revised up to -2.2% from -2.3%.

    Still, after two months of strong declines and a month of May where the economy is expected to suffer from the sand oil production disruptions related to the wildfire in Fort McMurray, April's 0.1% uptick was no relief.

  • 2016-06-17 12:55


    --But Warns Large Risks Must First Be Resolved

    OTTAWA (MNI) - Central banking and its control over the entire world of payments exchange is exploring transformative technological change that can bring great benefits but also large risks, Bank of Canada's Carolyn Wilkins said Friday.

    As a new and open computer system called distributed ledger technology (DLT) is being bruited as the Uber-like next step in global financial operations, BOC's senior deputy governor calls for collaboration by all players to separate much hype that exists about so-called fintech from the practical benefits and risks.

  • 2016-06-17 08:36


    By Yali N'Diaye

    OTTAWA (MNI) - Canadian inflation slowed to a below-expected year-over-year pace of 1.5% in May from 1.7% in April, Statistics Canada reported Friday, with a deceleration in food prices contributing the most to May's overall slowdown.

    On a monthly basis, total CPI was up 0.4%, following a 0.3% gain in April, led by transportation and recreation, although gains were recorded in all major categories except food.

    Core CPI, however, held above the Bank of Canada's 2.0% mid-range target, although it edged down to 2.1% from 2.2% the previous month, roughly in line with expectations.

    Analysts in a MNI survey had expected total inflation to rise 0.6% on the month and 1.7% on the year.

  • 2016-06-16 08:32


    --Foreign Investment in Canadian Securities C$15.5B
    --Canadian Investment in Foreign Securities C$4.7b

    OTTAWA (MNI) - Foreign investors acquired C$15.5 billion of Canadian securities in April, with a focus on foreign currency denominated debt, Statistics Canada reported Thursday.

    Meanwhile, Canadian investment in foreign securities rose C$4.7 billion, following acquisitions of C$2.3 billion in March.

    As a result, the net inflow of funds into the Canadian economy was nearly C$11.0 billion in April, slightly down from C$14.8 billion in March.

  • 2016-06-15 19:40


    --Remains Confident US Growth Will Pull Canada Exports Along

    OTTAWA (MNI) - Bank of Canada Governor Stephen Poloz sees, in a Canadian economic situation "riddled with uncertainty," the likelihood of flat or negative growth in the present quarter and an "outsized recovery" in the third quarter, he said in northern Canada Wednesday.

    He conceded that his central bank has been wrong in its forecasts before, notably on an export recovery led by United States demand, but told the Chamber of Commerce in Whitehorse, capital of Yukon territory, he is confident Canadians have "the right to be optimistic" about growth going forward.

  • 2016-06-15 09:50


    By Yali N'Diaye

    OTTAWA (MNI) - Existing home sales declined 2.8% in May, following a 3.1% increase in April, the Canadian Real Estate Association reported Wednesday, expecting activity to ease in the second half of this year as a result of a rebalacing process.

    In May, home resales decreased in 70% of all markets, CREA said, led by British Columbia and Ontario, "where the number of homes listed for sale has fallen to multi-year or all-time lows."

    "Many of the housing markets in B.C. and Ontario that led the monthly decline in national sales are also places where months of inventory have fallen to all-time lows," said CREA Chief Economist Gregory Klump.

  • 2016-06-10 08:40


    By Courtney Tower

    Ottawa (MNI) - Canadian employment rose by 13,800 in May, above what had been expected by analysts, and the unemployment rate dropped to 6.9% from 7.1% because 22,900 persons left the labor force, Statistics Canada reported Friday.

    The 13,800 jobs increase was based on a large gain of 60,500 full-time jobs, but that was heavily offset by a fall of 46,800 part-time jobs.

    Private-sector employment was down 5,400, while public-sector jobs increased by 30,200, the largest gain since June 2015.

    The new unemployment rate of 6.9%, is Canada's lowest rate since July 2015.

    The participation rate dropped 0.1 percentage points to 65.7%, the lowest level since January 2015.

  • 2016-06-09 10:34


    --Overall, Financial System Is Resilient

    OTTAWA (MNI) - The Bank of Canada on Thursday highlighted growing household debt as a chief domestic vulnerability for financial stability in Canada, but rated the overall probability of a materialization of a recession and a sharp housing price correction as low, unchanged from six months ago.

    High and increasing household debt in the Greater Toronto and Greater Vancouver metropolitan areas are cited in the BOC's biannual Financial System Review (FSR). Yet mortgage arrears rates "remain very low (in the whole country) and are falling in British Columbia and Ontario," the report says.

  • 2016-06-09 08:32


    --April New Housing Price Index +2.1% Y/Y, Largest Gain Since Feb 2013

    OTTAWA (MNI) - Canadian industries operated at 81.4% of their capacity in the first quarter of this year, a 0.5 percentage point increase from the previous quarter, Statistics Canada reported Thursday.

    The gain was mostly due to a 1.7 percentage point increase in oil and gas extraction to 79.0%, the highest utilization rate since the fourth quarter of 2011 (79.1%). The agency cited higher extraction volumes.

    In the manufacturing sector, industries operated at 83.2% of their capacity in the first quarter, up from 83.0% in the fourth quarter of 2015.