Canada Data

  • 2015-07-31 08:31

    --Goods Sector -0.6% vs Apr -0.8%; Services -0.1% vs +0.2%
    --Energy -0.5%; Manufacturing -1.7%

    OTTAWA (MNI) - Canada's economy contracted for the fifth consecutive month in May as the GDP was down 0.2% following a 0.1% decline in April, Statistics Canada reported Friday.

    Declines were rather widespread with the goods producing sector down 0.6% after -0.8% in April, and the services sector edging down 0.1% after a 0.2% gain the previous month.

    The monthly decrease pushed the year-over-year gain down to +0.5% in May, the smallest since December 2009, when it was flat on a 12-month basis. In April, the year-over-year increase was 1.2%.

  • 2015-07-28 08:32

    --IPPI Ex Energy and Petroleum +0.4% M/M; +3.1% Y/Y
    --RMPI Unch M/M, -17.5% Y/Y; Ex Crude Energy -0.8% M/M, -0.5% Y/Y

    OTTAWA (MNI) - Price increases in energy and motor vehicles combined with the pass-through effect of the weaker loonie contributed to a 0.5% gain in Canadian industrial product prices in June, Statistics Canada's data showed Tuesday.

    Excluding the monthly 2.0% rise in energy and petroleum, led by a 5.9% increase in gasoline prices, the Industrial Product Price Index was still up 0.4%, as gains were widespread across 15 of 21 commodity groups, including a 1.2% rise in motor vehicles.

    The 1.5% depreciation of the Canadian dollar vs. the U.S. dollar over the month also boosted the monthly IPPI.

  • 2015-07-23 08:30

    By Courtney Tower

    OTTAWA (MNI) - Canadian retail sales rebounded in May with a 1.0% increase over a weak April and 2.7% year-over-year growth risen from just 1.9% in April, well above market expectations.

    Consumers spent briskly almost across the board, increasing seasonally adjusted retail sales to C$43.0 billion to reach a new high. Statistics Canada said retail sales overall had increased for the third time in four months.

  • 2015-07-20 08:34

    By Yali N'Diaye

    OTTAWA (MNI) - Canada wholesale sales fell more than expected in May, posting a 1.0% decline over the month, with the auto sector being the biggest drag, Statistics Canada reported Monday.

    The performance was particularly disappointing as April's gain was revised down to 1.7% from 1.9%.

    Another disappointment came from the fact that the weakness in May was related to volume activity, as real sales fell 1.0%, following a 1.8% advance in April, that was revised down from +2.0% initially reported. Real wholesale sales had been down 1.6% in 1Q from 4Q.

    Meanwhile, inventories continued to rise - albeit at a slower pace - posting a 0.1% gain in May after a 0.4% advance in April, bringing the inventories level to a record high C$71.7 billion.

  • 2015-07-17 08:30

    --Seasonally adjusted, June CPI M/M +0.4% Matching May 0.4%

    OTTAWA (MNI) - Canadian inflation stayed relatively steady in June, rising 1.0% on an annual basis after a 0.9% rise in May, matching market expectations, Statistics Canada reported Friday.

    Lower energy prices continued to moderate the year-over-year rise in the Consumer Price Index, although less so than in April and May. Excluding energy, the CPI was up 2.1% on the year, after increasing 2.2% in May.

    The Bank of Canada's core index rose one notch in June, to 2.3% year-over-year, following a 2.2% rise in May, and a 2.3% rise in April. The seasonally adjusted core index rose 0.3% in June from May, following a 0.2% increase in May.

  • 2015-07-16 08:39

    By Yali N'Diaye

    OTTAWA (MNI) - Foreign investments in Canadian securities were down C$5.4 billion in May following a C$16.7 billion increase in April, led by a C$5.7 billion divestment in Canadian equities, Statistics Canada reported Thursday.

    Meanwhile, Canadian investment in foreign securities increased by C$5.6 billion in May, led by corporate securities, resulting in an overall net outflow of funds of C$11.0 billion from the Canadian economy, following two months of inflows.

    On the debt front, most flows were recorded on the bond side, with divergent trends resulting in an C$0.5 billion inflow.

  • 2015-07-15 10:04

    --Sees Q2 GDP Decline -0.5% after -0.6% Q1; Canada In Mild Recession
    --Still Sees Rebound, But Starting In Q3 Instead Q2

    OTTAWA (MNI) - The Bank of Canada lowered its policy interest rate to 0.50% on Wednesday from 0.75% where it had been since a 25 bp cut in January, saying that Canada is undergoing a significant economic adjustment which requires more monetary stimulus.

    The BOC said the lower growth outlook "increased the downside risks to inflation." It added that vulnerabilities related to household debt "could edge higher" from an elevated level.

    The BOC sharply reduced its former expectation of 1.8% GDP growth for the second quarter this year, to -0.5% on an annual basis, following the -0.6% negative growth in Q1.

  • 2015-07-10 08:41

    By Yali N'Diaye

    Ottawa (MNI) - Canadian employment was down 6,4k in June following a nearly 59.0k surge in May, Statistics Canada reported Friday, as weakness in part-time employment overshadowed the resilience of full-time jobs, showing underlying strength behind the headline number.

    The unemployment rate remained unchanged from May at 6.8%, with the participation rate edging down to 65.8% from 65.9%.

    Analysts in a MNI survey had expected a 10.0k drop in June employment, with the unemployment rate edging up to 6.9%.

    Full-time employment rose 64,800 in June, following a 30,9k increase in May, bringing the second quarter gain to 142.6k after a 6.0k decrease in 1Q.

  • 2015-07-09 10:54

    --Starts Up From Revised 196,981 May Units (Was 201,705)
    --Six-Month Trend 183,959 vs May 179,908; Q2 192,766 vs Q1 176,535

    OTTAWA (MNI) - Canada's housing construction rose to a seasonally adjusted pace of 202,818 units in June, well above market expectations, from a downwardly revised 196,981 in May (was 202,818 units), exhibiting continuing housing start volatility in the country.

    Canada Mortgage and Housing Corporation statistics reported Thursday showed the strong starts were driven by a 45% surge in starts from May in British Columbia and large 27% increases in Quebec and the three Prairie Provinces. Ontario, on the other hand, where the Toronto metropolitan area has long been a major upward force for housing activity, saw starts fall by 30.1% on the mo

  • 2015-07-09 08:35

    --NHPI +0.2% M/M; +1.2% Y/Y
    --Land Only +0.5% M/M and +1.3% Y/Y; House Only Unch M/M and +1.1% Y/Y

    OTTAWA (MNI) - Canada New Housing Price Index growth accelerated to 1.2% in May from +1.1% in April as a result of higher land fees in some metropolitan areas, while new house price growth slowed down, data from Statistics Canada showed Thursday.

    Nationally, the new housing price index (NHPI) rose 0.2% in May, following a 0.1% increase in April.

    The national trend reflecting divergent paths between house only and land only prices.

    The former were flat on the month, slowing from +0.1% in April, and posting their weakest performance since July 2014.