Canada’s economy is growing, but you’re forgiven if you didn’t notice—you probably work in the majority of industries that didn’t grow. Statistics Canada (StatCan) data reveals real gross domestic product (GDP) increased in February. A minority of industries drove that growth, with finance also getting a boost from loans and mortgages. Separately, the agency released […]
Canada is approving temporary residents at an unusually brisk rate—again. IRCC data shows approvals of non-permanent resident applications and extensions surged in February. Now at the third-highest volume on record, it confirms a softening stance on immigration. However, weaker applications reveal global demand for these visas is fading fast. Canadian Approvals of Temporary Resident Visas […]
Canadian economic output was set to slow down, but the country showed surprising growth in January, according to Statistics Canada (StatCan). Real gross domestic product (GDP) beat analyst expectations with minor growth, avoiding a “technical recession,” though economists warn the impact of higher energy prices due to the Iran war has yet to be determined. […]
The Bank of Canada (BoC) official who put the productivity “crisis” in the spotlight, returned this week with a familiar fix: invest in artificial intelligence (AI). Deputy Governor Carolyn Rogers urged businesses to adopt AI, comparing its productivity potential to the adoption of the internet. BMO chief economist Douglas Porter dumped cold water on those […]
The Government of Canada is aggressively reducing its workforce, but it should consider the environment it helped create. It’s taking workers much longer to find a job, according to January data from Statistics Canada (StatCan)—which was also just directed to slash 1 in 10 of its own jobs. The share of workers now considered long-term […]
Canada’s economy stumbled in November, with Statistics Canada (StatCan) data showing flat growth. Not much of a drag, but enough that it shaves nearly a quarter of the growth the Bank of Canada forecast just a few days ago. For national data, that’s not noise—it’s a massive gap, and the most likely explanation raises more […]
The Canadian economy is doing better than expected, and things will slow but be fine. That’s the takeaway one gets reading the summary of the Bank of Canada’s (BoC) January Monetary Policy Report (MPR). However, a dive into the full 44-page report reveals that narrative is a statistical mirage, supported by contradictory data points the […]
Canada’s central bank won’t love what the latest trade data says about the economy. Statistics Canada’s (StatCan) latest merchandise trade data shows a return to deficit territory in October due to surging imports. Demand is running so hot it’s seeking its fix abroad, while demand for Canadian goods is failing to keep up. The imbalance […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Housing Affordability Improves, Still Near 90s Peak: RBC RBC data shows housing affordability has improved for a seventh straight quarter. The bank estimates a median household needs to spend 53.2% of its disposable income on ownership costs in Q3. If that […]
Canadian GDP just hit reverse, a move that conflicts with the quarterly boom at first sight. Statistics Canada (StatCan) data shows GDP fell sharply in October—enough to erase months of gains. The reversal leaves the economy with the broadest erosion of industry since the pandemic, and it’s not just a blip. Canada’s economy is undergoing […]
