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Tag Archives: RBC

Consumer spending inches higher in February

(March 30, 2015) -- Eliminating the effect of prices, the volume of consumer spending in February dropped by 0.1 percent following the 0.2 percent gain in January and an average monthly increase during the fourth quarter of 2014 of 0.3 percent. Read More »

Fourth quarter GDP remains unchanged

(March 27, 2015) -- "Continuing modest growth was surprising given the maintenance of robust hiring by businesses since the second quarter of 2014, with the extreme winter weather likely temporarily dampening momentum," Ferley explained. Read More »

Jobless claims fall 9,000 last week to 282,000

(March 26, 2015) -- "A third consecutive below-300,000 reading was encouraging, because it indicated that the brief two-week spike in claims seen in late February did not represent a meaningful slowdown in labor market momentum," said Nye. Read More »

Consumer prices climb in America

(March 24, 2015) -- Expectations of a return to positive price gains in February were largely premised on indications that gasoline prices moved higher in the month, in the face of rising crude oil prices, said Ferley. Such was confirmed in today’s report with gasoline prices rising by 2.4 percent, Read More »

Canadian retails sales down as prices climb

(March 20, 2015) -- Weakness in retail sales was widespread with sales down in nine provinces. The largest drop, in dollar terms, occurred in Quebec. The unadjusted all-items consumer price index rose by a sizeable 0.9 percent in February. Read More »

Canadian employment flat in February

(March 13, 2015) -- Canadian employment in February was essentially flat in the month, declining by a minimal 1,000 following the outsized 35,400 surge in January, RBC Economics reported today. Market expectations had been for a slightly larger drop of 5,000 in the month, said Ferley. Read More »

Employment numbers jump higher in February

(March 6, 2015) -- "Our expectation is that businesses will continue to remain sufficiently confident about the growth outlook, which has been helped recently by the slide in oil prices, to continue to take on more workers at a solid pace," said Ferley. Read More »

U.S. unemployment claims jump by 7,000

(March 5, 2015) -- "Claims have been volatile in recent weeks with swings of over 20,000 in the three readings prior to today’s release. The four-week moving average has also been unusually volatile, rising to 304,750 currently from 283,000 just two weeks ago, which was down from 307,000 in mid-January," said Nye. Read More »

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 »