Canada Data

  • 2016-07-29 08:30

    --Largest M/M Drop Since March 2009 Mainly Due To Oil-Area Wildfires

    OTTAWA (MNI) - Canada's economy dropped nearly as expected in May, by 0.6% from April, the largest monthly decline since March 2009 and mainly due to the Alberta oilsands wildfires, Statistics Canada reported Friday.

    Analysts surveyed by MNI had expected a 0.7% decline. Had it not been for the 22% drop in oilsands production, real Gross Domestic Product edged down 0.1% in May.

    The energy sector overall declined 6.6% on the month, for a 6.4% drop year-over-year.

    Goods-producing industries declined in output by 2.8%, mainly due to the spring Fort McMurray wildfires. Services rose 0.3%.

  • 2016-07-22 08:54

    By Yali N'Diaye

    OTTAWA (MNI) - Canadian retail sales rose 0.2% in May, with weaker auto sales weighing on the overall performance while gasoline stations benefited from higher prices, data from Statistics Canada showed Friday.

    While the overall reading was above analysts expectations of a 0.2% decrease, it was a slowdown from April's 0.8% increase. The year-over-year growth pace decreased to 3.6% from 4.4%.

    In addition, sales volume was up just 0.1%, after being flat in April, which could not be attributed to the Alberta wildfires, as the report suggested their impact was small.

    Out of 770 businesses, 6.8% reported they were affected. However, Fort McMurray only represents 2.8% of retail activity in ALberta.

  • 2016-07-22 08:32

    --Q2 Total CPI +1.6% Unch From Q1; Core +2.1% From Q1 +2.0%

    OTTAWA (MNI) - Canadian inflation stayed relatively steady in June on an annual basis, rising 1.5% after the same gain in May, but was up 0.2% month-over-month, a slowdown from +0.4% in May, on an unadjusted basis, Statistics Canada reported Friday.

    The core index, stripping out volatile items, increased 2.1% Y/Y, as it had in May, and was unchanged on the month.

    Total CPI rose 1.6% in the second quarter, as it had in the first quarter. Core CPI edged up slightly, to 2.1% versus 2.0% in Q1. Both are in line with the Bank of Canada's own projections.

    On a seasonally adjusted basis, both the headline and core CPI rose 0.2% in June, the same as in May.

  • 2016-07-21 08:39

    --Small Impact from Alberta Wildfires

    OTTAWA (MNI) - Canada wholesale sales surprised on the upside in May with a stronger-than-expected 1.8% monthly increase, the largest since April 2015, Statistics Canada reported Thursday.

    The agency said the Fort McMurray wildfires had only a small impact on national wholesale sales. Data indicated it was concentrated on Alberta, the only province to record a decline.

    Gains were widespread across sectors, led by autos, with six of seven subsectors reporting increases, representing 88% of wholesale trade.

    Besides, April's performance was revised slightly up, with a 0.2% increase compared with +0.1% initially reported.

  • 2016-07-18 08:32

    --Foreign Investment in Canadian Securities C$14.7B
    --Canadian Investment in Foreign Securities C$5.1B

    OTTAWA (MNI) - Foreign investors acquired C$14.7 billion of Canadian securities in May, favoring federal government bonds, where acquisitions were the largest in more than a year, Statistics Canada reported Monday.

    Meanwhile, Canadian investment in foreign securities rose C$5.1 billion, with a focus on U.S. securities.

    Canadian debt securities attracted C$13.9 billion in May. Foreign acquisitions concentrated on bonds, with C$17.3 billion, the largest increase since March 2015.

  • 2016-07-15 10:15

    By Yali N'Diaye

    OTTAWA (MNI) - Canadian existing home sales declined 0.9% in June following a 2.8% drop in May from April's record, including declines in the country's hottest markets, the Canadian Real Estate Association reported Friday.

    That being said, underlying divergences persist, with sales and price growth still "running strong" in British Columbia and Ontario, where the tightest markets - Vancouver and Toronto greater areas - are.

  • 2016-07-14 08:34

    --Toronto, Vancouver Main Contributors To Monthly

    OTTAWA (MNI) - Prices for new Canadian houses increased at a faster pace in May than in April, appreciating 0.7% on the month after a 0.3% gain in April, and rising 2.7% on the year after a 2.1% advance in April, Statistics Canada reported Thursday.

    The regional breakdown showed that the already hot markets of Toronto and Vancouver got even hotter in May, giving more reasons for the Bank of Canada to step up its concerns over "elevated and rising" financial vulnerabilities, especially in these two areas.

    The central bank warned against the unsustainable nature of price gains in those markets. Meanwhile, the banks' regulator is also tightening its scrutiny of mortgage underwriting standards.

  • 2016-07-13 10:07

    --Little Impact From Brexit
    --Real GDP For 2016 Cut From 1.7% to 1.3%; 2.2% In 2017 From 2.3%
    --Output Gap To Close Slightly Later, End 2017 From 2H 2017

    OTTAWA (MNI) - The Bank of Canada Wednesday maintained its 0.50% policy rate, as expected, cut its earlier growth projections for the first half of this year, but continued to expect future growth despite a general climate of "heightened uncertainty."

    In fact, the tone of optimism in hard times of its earlier April assessment of domestic and global conditions is sharply increased for the third quarter, with a surge in growth of 3.5% at an annualized rate, in the quarterly Monetary Policy Report accompanying the rate decision. For the fourth quarter it sees GDP growth of 2.8%.

  • 2016-07-11 09:21

    --Seasonally Adjusted Starts Up Strong 16.9% From May
    --New Toronto Condos Soar; Rest of Canada Slows

    OTTAWA (MNI) - Building starts rose strongly in June, jumping 19.6% from May seasonally adjusted, but it was largely new condo construction in downtown Toronto while activity slowed in the rest of the country, the Canada Mortgage and Housing Corporation said in its monthly report released Monday.

    The 218,333 units started in June were up from 186,709 units in May, with urban starts increasing by 18.1% to 202,702 units.

    Multi-unit urban starts increased by 26.7% to 142,810 units, while single-family detached urban starts rose only by 1.7%.

    The seasonally adjusted annual rate of urban starts increased in five of the 10 provinces but decreased in t

  • 2016-07-08 08:44

    --Participation Rate -0.2 Ppt to 65.5%, Lowest Since December 1999

    Ottawa (MNI) - The Canadian economy shed 700 jobs in June, when the unemployment rate declined to 6.8% from 6.9% in May, Statistics Canada reported Friday, with a bleak picture in the good-producing sector partly offset by stronger services.

    Analysts' forecasts in a MNI survey had centered on a gain of 8,000 jobs, with the unemployment rate edging up to 7.0%.

    While the unemployment rate declined, it was for the wrong reason, as the labor force continued to contract for the third consecutive month, bringing the participation rate down 0.2 percentage point to 65.5%, the lowest since December 1999.