Economic News and Forecasts
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Bank of Canada Holds Interest Rates, Forecasts GDP Decline in 2020 of Almost 8%
Jul 15, 2020 | Economic News and ForecastsThe Bank of Canada today held interest rates steady at 0.25%, which it calls the effective lower bound. In its release announcing the rate, the Bank said "The Governing Council will hold the policy interest rate at the effective lower bound until economic slack is absorbed...
Government of Canada Releases Economic and Fiscal Snapshot
Jul 15, 2020 | Economic News and ForecastsThe Government of Canada (Department of Finance) last week released an economic and fiscal snapshot for Canada's economy in the wake of COVID-19. They are forecasting a contraction in GDP for 2020 of 6.8% followed by growth of 5.5% in 2021. This is generally within the ranges...
April 2020 GDP and Flash Estimate for May Released
Jun 30, 2020 | Economic News and ForecastsStatistics Canada today released April 2020 GDP figures. Their earlier "flash" estimate called for a decline of 11% compared to March, but the results were actually marginally lower than that, at -11.6%. The carnage was widespread, with all 20 reporting sectors seeing declines...
June 2020 Economic Forecast
Jun 29, 2020 | Economic News and ForecastsFearlessly looking into our crystal ball, DHI Canada has prepared an economic review and updated forecast for the balance of 2020 and into 2021.
StatsCan Releases March 2020 GDP and Flash Estimate of April 2020 GDP
Jun 1, 2020 | Economic News and ForecastsStatistics Canada released a "flash" estimate for April 2020's Gross Domestic Product, forecasting an 11% decline for the month compared to March. They note that this is a preliminary estimate and that it will be revised as more information becomes available...
Q1 2020 GDP Down, But Not As Far As Expected
May 28, 2020 | Economic News and ForecastsStatistics Canada today released figures for the first quarter's GDP. They show a decline of 2.1% compared to Q4 2019, or an annualized decrease of 8.2%, due to COVID-19. Pundits had expected a 10% annualized decline, so the damage is not as severe as originally anticipated...
2020 Economic Forecast
Jan 1, 2020 | Economic News and ForecastsOur 2020 economic forecast, written in November 2019 and published in Door Security + Safety magazine's January issue calls for moderate growth in 2020's Canadian GDP (1.4%) amid a general softening of the economy. At the time, we identified uncertainty around pending resolution...
Q3 2019 GDP Growth Rate Slows, As Expected
Dec 4, 2019 | Economic News and ForecastsStatistics Canada released Q3 GDP figures on Friday. Overall, they show a moderated growth rate of 1.3% (quarter over quarter, seasonally adjusted at annual rates [SAAR]). Of interest to DHI-C members, non-residential building activity showed annualized growth of 11.1%...
Bank of Canada Maintains Overnight Rate
Dec 4, 2019 | Economic News and ForecastsAs was almost universally expected, the Bank of Canada maintained its overnight rate at 1.75% today. In its press release, the Bank said there is evidence the global economy is stabilizing and it expects global growth to edge higher over the next couple of years....
August 2019 Investment in Building Construction Data Released
Oct 28, 2019 | Economic News and ForecastsOn October 21, Statistics Canada released the August Investment in Building Construction figures. Nationally, investment grew by 1.4% compared to July (seasonally adjusted at annual rates, and expressed in current dollars). Most of that growth was in residential construction (up 1.8%)...