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Tag Archives: RBC

Canadian GDP jumps 2.4 percent

(March 3, 2015) -- "Consumer spending is also likely to strengthen with our expectation of declining employment in the energy sector more than offsetting gains elsewhere and with gasoline purchases accounting for a significantly smaller share of household budgets," said Janzen. Read More »

Personal consumer spending down 0.2 percent

(March 2, 2015) -- "The dip in nominal personal spending in January was entirely accounted for by lower prices, as gasoline prices fell sharply in the month," said Janzen, who noted the 0.5 percent drop left the measure up just 0.2 percent from a year ago, which was the lowest year-over-year change since October 2009. Read More »

Fourth quarter GDP revised 0.4 percent lower

(Feb. 27, 2015) -- "The downward revision to GDP growth to a rate closer to the economy’s long-run average, or potential, rate was disappointing; however, the revision can be more than accounted for by a smaller build in inventories that has positive implications for production going forward," said Ferley. Read More »

Canadian retail sales sink in December

(Feb. 20, 2015) -- "Expectations for a decline were largely based on indications of a rapid drop in gasoline prices and attendant weakening in gasoline station receipts," Ferley said. "Weakness was also evident in sales at motor vehicle dealerships, which dropped by 1 percent despite earlier reports of rising unit autos sales in December." Read More »

Jobless claims fall by 21,000 last week

(Feb. 19, 2015) -- Initial unemployment claims in the United States fell by 21,000 to 283,000 in the week ending Feb. 14, almost fully retracing an unexpectedly large 25,000 increase to 304,000 (unrevised) in the previous week. Read More »

November retail sales show solid gain

(Dec. 12, 2013) -- "Strength in retail sales during the last two months is consistent with our view that fourth-quarter 2013 consumer spending growth will strengthen to an annualized 2.5 percent from the 1.4 percent increase recorded in the third quarter," said Ferley. "This will not prevent overall GDP growth slowing to 1.4 percent from 3.6 percent during the same period." Read More »

Personal spending rises in U.S., but not income

(Dec. 6, 2013) -- "Overall, today’s data are consistent with our forecast for personal spending to pick up to a 2.5 percent annualized pace in the fourth quarter. Further employment gains and decent personal income growth, along with wealth effects related to an improving housing market, should continue support stronger consumer spending in 2014." Read More »

U.S. economic activity expands at modest pace

(Dec. 4, 2013) -- "Today’s Beige Book report indicated that most districts continue to see a modest to moderate pace of demand growth, with firms remaining cautiously optimistic about the near-term outlook," said Nye. "We forecast that solid underlying growth momentum in the second half of the year will continue into the first quarter of 2014, thereby resulting in further employment gains." Read More »

U.S. manufacturing activity rises

(Dec. 2, 2013) -- "Manufacturing activity in the United States continued to show resilience following the 16-day government shutdown in October with the unexpected rise in the ISM reading in November marking the sixth consecutive monthly gain" said Cooper. "The headline measure now sits at its highest level since April 2011." Read More »

Canadian third quarter GDP stronger than expected

(Nov. 29, 2013) -- "For overall GDP growth to continue to grow at an above-potential rate, greater strength will be needed from non-residential investment going forward as high household debt levels are expected to weigh on consumer spending and residential investment increasingly," said Ferley. Read More »

Canadian retail sales rise as inflation falls

(Nov. 22, 2013) -- Retail sales in Canada rose a stronger-than-expected 1.0 percent in September. Most of the increase in September was the result of a 4.7 percent jump in sales at motor vehicle dealerships. Earlier reported unit auto sales had pointed to an increase in sales at auto dealerships in the month, although not as large as the increase in today’s report. Read More »

October retail sales rise more than expected

(Nov. 20, 2013) -- The so called ‘control’ measure, which excludes sales at motor vehicle dealerships, gasoline stations, and building material stores, and also feeds directly into the GDP add up, rose a stronger than expected 0.5 percent. This followed a 0.3 percent gain in Septembe Read More »

Jobs report shows gains in U.S. and Canada

(Nov. 8, 2013) -- Payroll employment in the United States jumped a stronger-than-expected 204,000 in October following upwardly revised gains of 163,000 (was 148,000) and 238,000 (was 193,000) in September and August, respectively, RBC Economics reported. Read More »

Gross domestic product rises 2.8 percent in third quarter

(Nov. 7, 2013) -- "The unexpected pick-up in overall GDP growth was despite moderation in the pace of growth in consumer spending to 1.5 percent from 1.8 percent in the second quarter," said Janzen. "As well, investment in equipment declined 3.7 percent, which was its first quarterly decline since the third quarter of 2012." Read More »

Canadian GDP rises more than expected

(Nov. 1, 2013) -- The 0.3 percent gain in service-producing industries reflected widespread increases in a number of components. The increase was led by a 1.3 percent increase in accommodation and food services and a 0.7 percent rise in the management-services component. Statistics Canada attributed the increase in the former to “an increase in the number of overnight travelers to Canada.” Read More »