(Feb. 10, 2017) — “Today’s report suggests the economy entered 2017 on a firm note with the trend rate of employment growth sufficient to maintain household spending at a rate similar to 2016,” said Desjardins.
(Feb. 3, 2017) — “Today’s report indicates continued robust increases in employment going into 2017,” said Ferley. “Such bodes well for overall gross domestic product (GDP) growth to continue at an above-potential rate as prevailed over the second half of 2016.”
(Feb. 1, 2017) — “Market-based inflation expectations also rose markedly in recent months; however policy makers seem unconcerned about this development stating that the implied rates are still low and survey-based measures are holding steady,” said Desjardins.
(Jan. 31, 2017) — “Fourth quarter growth is expected to be restrained by a major drawdown in inventories that look likely to subtract almost 4 percentage points from the growth rate though this will be offset by solid consumer spending and strengthening net exports,” said Ferley.
(Jan. 30, 2017) — Overall December spending was boosted by a 2.8 percent increase in motor vehicle sales, which was consistent with the earlier-reported 3 percent increase in December unit vehicle sales, and contributed to a 1.4 percent gain in spending on durable goods, RBC Economics reported.
(Jan. 27, 2017) — The advance estimate of fourth quarter gross domestic product (GDP) in the United States grew at 1.9 percent, down from 3.5 percent in the third quarter but still marking a slightly “above-trend” pace of growth, RBC Economics reported.
(Jan. 20, 2017) — “These increases bode well for November GDP to reverse the unexpected 0.3 percent decline in October GDP. This bounce back and earlier monthly increases point to Q4 GDP growth remaining positive rising an annualized 1.5 percent,” said Ferley.
(Jan. 18, 2017) — “Today’s report indicated wage pressure, while still modest, is becoming more widespread and is expected to continue to pick up next year amid tight labor market conditions,” said Nye. “There is ample evidence of labor market tightness in the hard data.”
(Jan. 18, 2017) — The rise in the year-over-year headline rate from 1.7 percent in November was largely a result of an acceleration in energy price growth although the annual increase in core prices also inched higher to 2.2 percent from 2.1 percent in November.
(Jan. 13, 2017) — A 2.4 percent increase in motor vehicle sales (flagged by an earlier-reported rise in unit auto sales) accounted for the bulk of the December sales gain.
(Jan. 9, 2016) — “However, this optimism could be tempered if signs emerge that increased trade protectionism is emerging from the Trump administration limiting Canadian exporters ability to benefit from the U.S. fiscal stimulus,” said Ferley.
(Jan 6, 2017) — “Sluggish firm count growth is broad based with most industries seeing growth drop below their post-recession average,” said Walsh. “Decline in mining, oil and gas firm counts is notable, with 9 percent of firms in the sector (nearly 1,000 in all) ceasing operations over the past year.”
(Jan. 6, 2017) — “The increase in hiring has been sufficient to put downward pressure on the unemployment rate and upward pressure on wage growth. These trends are indicative of overall economic activity being sustained at an above-average, or above-potential, rate,” said Ferley.
(Dec. 2, 2016) — November payroll employment increased by 178,000, up considerably from the 142,000 gain in October. In Canada, employers increased employment by 11,000 jobs in November, despite estimates of a drop in new jobs.
(Nov. 30, 2016) — “The issue going forward is what growth rate will the economy stabilize at once the temporary boost from the recovery of this lost oil production passes,” said Janzen.
(Nov. 29, 2016) — Stronger consumer spending was the main factor behind the upward revision with partial offset from a downward revision to business investment and inventories.
(Nov. 22, 2016) — Canadian retail sales rose by 0.6 percent in September. Excluding a large gain in the motor vehicle component, sales were unchanged from August, RBC Economics reported today.
(Nov. 18, 2016) — “Our forecast is that the economy will grow at an above-potential pace throughout 2017 chiseling away at spare capacity, underpinning inflation expectations at 2 percent and preventing a downshift in underlying price pressures,” said Desjardins.
(Nov. 15, 2016) — Retail sales in the United States posted another solid increase in October with a 0.8 percent gain built on an upwardly revised 1.0 percent increase in September, RBC Economics reported.
(Nov. 4, 2016) — However, CNS News reported that 94.6 million adults are still out of the labor force, the second highest number on record. It forced the participation rate down to 62.8 percent.