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Stats Can Says July GDP Better Than Flash Estimate; Releases August Flash Estimate
Oct 1, 2021 | Economic News and ForecastsStatistics Canada today released the July GDP figures. While their flash estimate called for a decline of 0.7%, the actual decrease was only 0.1%; 13 of 20 industrial sectors showed increases, led by accommodation and food services. Construction fell by 0.9%, due largely to a decline in...
A "No News" Announcement from the BoC on Interest Rates
Sep 8, 2021 | Economic News and ForecastsThe Bank of Canada (BoC) held the line on interest rates today and is making no change to its quantitative easing (QE) program. Interest rates remain at the effective lower bound of 0.25% and QE stays at $2 billion per week. The BoC's announcement noted the decline in Q2 GDP...
Stats Can Announces Q2 2021 and June 2021 GDP, and Provides Flash Estimate for July
Aug 31, 2021 | Economic News and ForecastsStatistics Canada announced today that Q2 2021 GDP fell by 0.3% compared to Q1. This is an annualized rate of decline of 1.2%. It follows three consecutive quarters of GDP growth after the Q2 2020 pandemic-related decline of 11.3%. Investment in non-residential construction increased...
GDP News from Statistics Canada - April, May and June
Jul 30, 2021 | Economic News and ForecastsStatistics Canada today released its May GDP figures, revised April GDP and provided a preliminary estimate for June. StatsCan originally reported a 0.3% decline in April GDP (story below); this has been revised downward to 0.5%. May, as they had forecast, came in down 0.3%...
DHI-C's July 2021 Economic Review and Forecast
Jul 8, 2021 | Economic News and ForecastsDHI Canada is pleased to release our latest economic review and forecast - considerably sunnier than that of December 2020, thanks to the global economic recovery, the apparent retreat of COVID-19 and the accompanying reopening of the economy. There may still be some unevenness ahead...
April 2021 GDP Report from Statistics Canada
Jun 30, 2021 | Economic News and ForecastsStatistics Canada released its April GDP figures today. GDP shrank in April by 0.3% - well below the initial expectation of a 0.8% contraction. This is the first decline in GDP after 11 months of growth. Non-residential building construction grew by 1.1% in the month...
Revised 2020 GDP Figures, with Provincial Breakdowns, Released by Statistics Canada
May 3, 2021 | Economic News and ForecastsStatistics Canada released revised GDP figures for 2020 today, changing shrinkage in the economy to 5.3% from the 5.4% reported in March. The provincial/territorial GDP breakdown showed all provinces down compared to 2019, with only the Yukon (1.1% growth) and Nunavut (3.5% growth)...
Bank of Canada Ups 2021 GDP Growth Estimate
Apr 22, 2021 | Economic News and ForecastsThe Bank of Canada yesterday announced it is continuing to keep interest rates at the lower effective bound of 0.25% and is scaling back its quantitative easing (QE) support - purchases of Government of Canada bonds - from $4 billion to $3 billion per week, effective April 26...
Bank of Canada Holds the Line on Interest Rates
Mar 10, 2021 | Economic News and ForecastsThe Bank of Canada announced today it is keeping interest rates at the effective lower bound of 0.25% despite the improved GDP in Q4 2020. The tone of the announcement remained somewhat dovish: "While economic prospects have improved, the Governing Council judges that the recovery continues...
Statistics Canada Releases Q4 2020 and Calendar 2020 GDP
Mar 4, 2021 | Economic News and ForecastsYesterday, Statistics Canada released GDP figures for Q4, along with GDP for the full year. In Q4, GDP grew 2.3% (an annualized rate of 9.5%) while, for the year, it fell an unprecedented 5.4%. Non-residential construction fell 10.9% in the quarter, reflecting weak demand for office buildings...