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Tag Archives: RBC Economics

Consumer prices fall unexpectedly in August

(Sept. 17, 2014) -- "Part of the unexpectedly weak, flat reading in core CPI inflation in August was the result of a drop in airline fares that may reflect some passthrough of energy price volatility into the typically more stable core measure," said Janzen. Read More »

U.S. industrial production falls in August

(Sept. 15, 2014) -- "Today’s reported decline in manufacturing activity was disappointing, but largely reflected weaker motor vehicle output following an outsized increase in July, with volatility in the last two months likely due to seasonal adjustment issues" said Nye. Read More »

August retail sales rise, Canadians enjoy record net worth

(Sept. 12, 2014) -- Nominal retail sales in August 2014 rose by an expected 0.6 percent in the month, which built further on the upwardly revised gain in July of 0.3 percent, RBC Economics reported. In Canada, per capita net worth was $227,800 in the quarter, representing an all-time high. Read More »

Jobless claims rose week of Sept. 6

(Sept. 11, 2014) -- Initial unemployment claims in the United States increased by 11,000 to 315,000 in the week ending Sept. 6, following a 6,000 rise to a revised 304,000 (was 302,000) level for the previous week, RBC Economics reported. Read More »

U.S., Canadian employment growth slows

(Sept. 5, 2014) -- "Today’s August payroll employment report was marginally disappointing although the average during the last three months of 207,000 implies a solid pace of job growth," said Ferley. "This bodes well for overall GDP growth to be sustained at an above-potential rate in the current quarter." Read More »

U.S., Canadian manufacturing improves in August

(Sept. 2, 2014) -- "A strengthening U.S. economy and recent depreciation of the Canadian dollar have likely contributed to this broad-based strength and which we assume will continue to keep the overall PMI at high levels during 2015," said Ferley. Read More »

Canadian GDP up significantly

(Aug. 29, 2014) -- Real gross domestic product in Canada recovered strongly in the second quarter of 2014 with the economy growing at an annualized 3.1 percent rate, RBC Economics reported. In the U.S., Personal consumer expenditure (PCE) unexpectedly declined by 0.1 percent in July 2014, which was below expectations for a 0.2 percent increase. Read More »

U.S. second quarter GDP growth revised higher

(Aug. 28, 2014) -- "Today’s revised numbers continued to confirm that activity rebounded sharply after the weather-related decline in the first quarter," said Ferley. "The second-quarter rebound occurred with a slightly more favorable composition of output, thereby reflecting stronger net exports, business investment, and a smaller inventory build." Read More »

Canadian retail sales rise sharply in June

(Aug. 22, 2014) -- Canadian nominal retail sales in June rose by a very strong 1.1 percent that markedly outpaced the 0.3 percent gain expected within financial markets, RBC Economics reported. The unadjusted all-items Canadian consumer price index fell by 0.2 percent in July. Read More »

U.S. jobless claims fall last week

(Aug. 21, 2014) -- Initial unemployment claims in the United States fell by 14,000 to 298,000 in the week ending Aug. 16. However, the four-week moving average of initial claims increased to 300,750 from 296,000 in the previous week. Read More »

Consumer prices rise modestly in July

(Aug. 19, 2014) -- "Today’s CPI report showed that core inflation entered the third quarter of 2014 by increasing at a rate matching what prevailed in the second quarter and in line with the Fed’s 2 percent inflation objective," said Ferley. Read More »

U.S. industrial production posts jump in July

(Aug. 15, 2014) -- "The rise in industrial production in July marked the sixth consecutive increase and built on the revised 3.4 percent annualized gain in the second quarter of 2014," said Desjardins. Canadian employment in July surged by a revised 41,700, which more than reversed the 9,400 drop that was recorded in June. Read More »

Jobless claims move higher last week

(Aug. 14, 2014) -- Initial unemployment claims in the United States rose by 21,000 to 311,000 in the week ending Aug. 9 following a revised 290,000 reading (was 289,000) in the previous week. Read More »

U.S. retail sales flat in July

(Aug. 13, 2014) -- "Activity in the month was held back by the motor vehicle component dropping by 0.2 percent. Despite the modest decline, the level of auto sales activity remains high with consumers responding to various new car purchase incentives," said Ferley. Read More »

Initial unemployment claims fall last week

(Aug. 7, 2014) -- The four-week moving average of initial claims, which helps smooth out some of the weekly volatility in the measure, fell to 293,500 from 297,500 in the previous week to mark another cycle low and the lowest reading since February 2006. Read More »