Canada Data

  • 2015-09-03 08:38

    --July Balance Follows Updated June To -C$0.8B From -C$0.5B
    --July Exports +2.3%, Mostly Non-Energy; Imports +1.7%

    OTTAWA (MNI) - Canada's trade deficit narrowed more than expected in July as export rose 2.3%, led by non-energy products, while imports rose 1.7%, Statistics Canada reported Thursday.

    Canada's merchandise trade deficit with the world narrowed from a revised C$811 million in June (revised from C$476 million) to C$593 million in July, with total exports at C$45.5 billion being just under their previous record of C$45.6 billion in July 2014.

    Exports to the chief market on which Canada depends for merchandise trade growth, the United States, rose by 2.1% on the month to C$34.7 billion, while imports from the U.S.

  • 2015-09-01 08:43

    --GDP For June +0.5% Seasonally Adjusted, Above Expectations

    By Courtney Tower

    OTTAWA (MNI) - Canada's economy jumped out of five previous months of negative territory in June, growing by +0.5% from May, but second quarter GDP nevertheless posted a -0.5% print and Canada was confirmed as being in a so-called technical recession.

    The -0.5% posting of GDP for Q2, following a -0.8% drop in Q1, both seasonally adjusted and annualized, as provided by Statistics Canada Tuesday, confirmed there were the two consecutive negative quarters required to form an official recession.

    The monthly increase and the annualized Q2 result both were above expectations of analysts surveyed by MNI, who had expected +0.2% growth on the month and -1.0% for Q2.

  • 2015-08-28 08:38

    By Courtney Tower

    OTTAWA (MNI) - Canadian industrial product prices increased 0.7% in July, the third consecutive monthly increase and largest since last February, largely because of a 2.5% gain in prices for motor vehicles linked to a weaker CAD, Statistics Canada reported Friday.

    With energy and petroleum product prices down -1.1% from June (-18.6% Y/Y) the Industrial Product Price Index excluding them remained up, by +1.0% on the month (+3.8% Y/Y).

    The gains in prices for motor vehicles "were closely linked to the depreciation of the Canadian dollar relative to the US dollar," the agency said. Overall, if the -4.0% depreciation in July were to have been excluded, the IPPI would have decreased -0.2% instead of the 0.7% increase.

  • 2015-08-21 08:31

    By Courtney Tower

    OTTAWA (MNI) - Canadian retail sales rose in June by 0.6% from May, mostly on higher prices, as the volumes of retail sales were flat, Statistics Canada reported Friday.

    The 0.6% gain, to C$43.2 billion, was a decline from the 0.9% gain in May, which was revised downward from an earlier reported +1.0%.

    Market analysts surveyed by MNI had expected total retail trade to rise 0.2% on the month, and by 0.6% ex-autos.

    Excluding sales of new and used and recreational vehicles and parts, sales were up 0.8%, matching the May gain (revised from +0.9%).

    Excluding motor vehicles and gasoline, sales rose 0.5% following a 0.8% increase in May.

    Gasoline stations recorded the largest gains overall in dollar terms on higher pump prices.

  • 2015-08-21 08:30

    --Total CPI Y/Y Gain Largest Since Dec 2014

    OTTAWA (MNI) - Canadian inflation accelerated in July, rising by 1.3% on an annual basis after a 1.0% advance in June, matching market expectations and posting its largest gain since December 2014, Statistics Canada reported Friday.

    In particular, the moderating effect of lower energy prices was "less pronounced" and meat continued to boost food prices.

    The Bank of Canada core index growth rate edged up to 2.4% in July from 2.3% in June, and remains well above the Bank's desired 2.0% target level.

    Analysts surveyed by MNI had expected a 1.3% increase year-over-year in total CPI and a 2.3% gain for the core index.

  • 2015-08-20 08:30

    By Yali N'Diaye

    OTTAWA (MNI) - Canada wholesale sales recovered 1.3% in June, more than offsetting the 0.9% decline in May, Statistics Canada reported Thursday.

    The increase was larger than analysts had expected, especially since the May decline was not as large as the 1.0% decrease initially reported, while the 1.8% gain in April was revised up from +1.7%.

    The data showed volumes were strong, with real sales up 1.1% in June, following a 0.9% decline in May.

    Strength was also recorded across sectors and regions.

    Led by a 3.0% advance in motor vehicles and sales, gains were indeed recorded in five of seven subsectors representing 86% of wholesale sales.

  • 2015-08-17 14:20

    --19-Point Tumble For Aug Could Be 22 Points Under Breakeven

    WASHINGTON (MNI) - The New York Federal Reserve's Empire State manufacturing survey, the surprising report released Monday that showed August to be at its lowest since the spring of 2009, is even worse than it appears given its breakeven level is well above zero.

    Not only did the headline general business conditions index unexpectedly nosedive by 19 points into negative territory, in the red by 14.9 points, its measure of new orders dropped to its lowest since November 2010 at a negative 15.7.

  • 2015-08-17 08:31

    By Yali N'Diaye

    OTTAWA (MNI) - Foreign investment in Canadian securities rose C$8.5 billion in June, more than offsetting the C$5.5 billion divestment in May, with net inflows both in debt and equity instruments, Statistics Canada reported Monday, with data showing "significant portfolio adjustments" away from long-term debt toward short-term debt instruments.

    Over the second quarter, inflows slowed to C$19.8 billion from C$37.2 billion in 1Q.

    Meanwhile, Canadian investment in foreign securities increased C$8.6 billion in June, following a C$5.7 billion investment in May, bringing outflows to an eight-year high of C$24.2 billion in 2Q after a C$4.6 billion divestment in 1Q.

  • 2015-08-14 10:39

    By Courtney Tower

    OTTAWA (MNI) - Canadian home resales edged lower in July from June, for the second consecutive month, with two major metropolitan centers, Toronto and Vancouver, continuing to fuel housing activity in the country.

    The Canadian Real Estate Association reported Friday that national home sales edged back by 0.4% in July, month-over-month, following a 0.8% decline in June.

    CREA was quick to note, however, that the June and July levels reached actually were at their highest in more than five years.

    Sales seasonally adjusted at an annual rate declined the 0.4% to C$42,640 on the month and were down in about half of all local markets, CREA announced.

    But the great regional divide of recent months was marked again, in that the Greater Toronto Area (

  • 2015-08-13 08:31

    --NHPI +0.3% M/M; +1.3% Y/Y
    --Land Only +0.4% M/M and +1.6% Y/Y; House Only +0.2% M/M and +1.1% Y/Y

    OTTAWA (MNI) - Canada New Housing Price Index growth accelerated in June for the third straight month to a monthly pace of 0.3% last matched in August 2014, following a 0.2% gain in May, Statistics Canada reported Thursday.

    The metropolitan regions posting the largest gains generally cited higher land development costs and market conditions as reasons for the price increases.

    Nationally, the new housing price index (NHPI) rose 1.3% in June on a 12-month basis, following a 1.2% increase in May and a 1.1% advance in April.

    In the second quarter, housing prices were up 0.4% from 1Q, the largest increase since 4Q 2014.