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Tag Archives: RBC Economics

Canadian GDP rebounds in May

(Aug. 4, 2014) -- "This pick-up in monthly growth was slightly stronger than what was assumed in our forecast, thereby implying annualized second-quarter 2014 growth closer to 2.5 percent relative to our previously estimated 2.2 percent," said Ferley. Read More »

U.S. payroll, consumer spending moderates

(Aug. 1, 2014) -- July 2014 payroll employment increased by 209,000 in the month, which was down from June’s surge of 298,000. Personal consumer expenditure (PCE) in the United States increased by 0.4 percent in June 2014, thereby matching market expectations. Read More »

Preliminary report shows U.S. economy grew 4 percent

(July 30, 2014) -- "The rebound in GDP in the second quarter confirmed that the decline in the first quarter reflected a number of temporary factors, including the effect of severe winter weather, rather than deterioration in the underlying economic backdrop," said Janzen. Read More »

Initial jobless claims plummet last week

(July 24, 2014) -- Initial unemployment claims in the United States fell by 19,000 to 284,000 in the week ending July 19, following a revised 303,000 reading (was 302,000) in the previous week, falling to its lowest level since February 2006. Read More »

Canadian retail sales continue to rise

(July 23, 2014) -- The overall increase was boosted by a 2.5 percent jump in motor vehicles sales in the month that built further onto an already strong 2.9 percent surge in April. Additional support was provided by nominal receipts from gasoline stations rising by 2.0 percent and helped by rising gasoline prices in the month. Read More »

Consumer prices jump 0.3 percent

(July 22, 2014) -- On a year-over-year basis, headline price growth held at 2.1 percent, which was unchanged from May but still above 2.0 percent and 1.5 percent readings in April and March, respectively. Much of the month-over-month increase in June reflected a 1.6 percent rise in energy prices Read More »

Canadian inflation rate hits 2.4 percent in June

(July 18, 2014) -- The unadjusted all-items Canadian consumer price index (CPI) index inched upward by 0.1 percent in June 2014, RBC Economics reported. The year-over-year inflation rate also crept higher to 2.4 percent, its fastest pace since February 2012. Read More »

Fed claims economic activity continues to climb

(July 16, 2014) -- "Most sectors of the economy are continuing to expand steadily beyond the recent bounce from weather-delayed activity, although reports on housing activity continue to be mixed," said Nye. "The employment assessment improved further, thereby indicating the solid pace of hiring seen in the first half of the year should continue in the near term." Read More »

Growth of retail sales slows in June

(July 15, 2014) -- While headline retail sales growth disappointed market expectations, strong control sales and upward revisions to previous months make this report more encouraging than at first glance," said Nye. Read More »

Canadian labor report disappoints expectations

(July 11, 2014) -- The drop in employment in June 2014 disappointed expectations that the economy generated a second monthly increase and that the unemployment rate held at 7.0 percent with today’s report showing a 9,400 drop in jobs and an uptick in the unemployment rate to 7.1 percent, RBC Economics reported. Read More »

Initial jobless claims fall by 11,000 last week

(July 10, 2014) -- The latest reading was below market expectations for initial claims of 315,000. "The unexpectedly low reading may reflect some difficulty seasonally adjusting the data around the July 4 holiday as well as summer shutdowns for retooling in the auto sector," said Nye. Read More »

Bank of Canada optimistic about the future

(July 7, 2014) -- The BOS survey indicated that firms remain optimistic about future sales with a diffusion measure reading of 24, although this was down slightly from a 27 reading last quarter. Encouragingly, export demand continues to improve, said Ferley. Read More »

June employment rises strongly

(July 3, 2014) -- "The solid gain in June employment confirms that businesses remain sufficiently confident in the economic outlook to take on new workers," said Ferley. "As well, the attendant boost to household incomes should allow consumers to continue to support growth in the economy." Read More »

Consumer spending rises just 0.2 percent in May

(June 26, 2014) -- Personal consumer expenditure (PCE) rose by a weaker-than-expected 0.2 percent in May 2014. Expectations had been for a 0.4 percent gain following a flat reading (was -0.1 percent) in April and the 0.8 percent (was 1.0 percent) jump in March, RBC Economics reported today. Read More »