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Tag Archives: RBC

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 »

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 »