(Nov. 3, 2016) — “With the economy picking up pace and labor market conditions continuing to tighten, the underpinnings of the Fed meeting its longer term objective of 2 percent inflation appear to be strengthening,” said Desjardins.

(Nov. 1, 2016) — “The increase in August GDP builds further onto the outsized gains in July and June and point to Q3 annualized GDP growth likely increasing 3.5 percent,” said Ferley.

(Oct. 31, 2016) — The core PCE deflator inched up 0.1 percent in September to leave the year-over-year rate of growth unchanged at 1.7 percent.

(Oct. 28, 2016) — The advance estimate of U.S. third-quarter gross domestic product growth was 2.9 percent, which was above expectations for a 2.5 percent gain, and up from the 1.1 percent average growth rate in the first half of the year, RBC Economics reported.

(Oct. 24, 2016) — The bank will continue to target the 2 percent midpoint of the 1-3 percent inflation control range as measured by the 12-month percent change in total CPI, said economist Josh Nye.

(Oct. 21, 2016) — “The reported drop in retail sales volumes is disappointing. However, it is expected to be more than offset on a monthly GDP basis by a solid rise in manufacturing output of 0.5 percent in August,” said Janzen.

(Oct. 19, 2016) — “On balance, there is little to suggest the economy is deviating from the Fed’s projected path, although recent developments aren’t necessarily enough to push the committee’s consensus in favor of a rate hike even after some saw the last decision as a ‘close call,'” said Nye.

(Oct. 29, 2016) — In 2016, the bank now looks for Q3 growth of 3.2 percent (previously 3.5 percent) with Q4’s growth rate cut to 1.5 percent from 2.8 percent. The bank now looks for the economy to grow by 2.0 percent in 2017 rather than 2.2 percent, said Desjardins.

(Oct. 14, 2016) — Market expectations for a solid increase in September retail sales were based on indications of unit auto sales rebounding sharply. It was confirmed in today’s report with sales of motor vehicle dealerships rising 1.1 percent.

(Oct. 12, 2016) — “There seemed to be growing concern among some participants that the Fed is falling behind the curve on tightening monetary policy,” said Nye. “Several noted the risk, based on historical experience, that waiting too long to resume policy firming could pose risks to the economic expansion.”

(Oct. 7, 2016) — Payroll employment in the United States rose by 156,000 in September, but unemployment jumped from 4.9 to 5 percent. In Canada, the 67,000 increase is the strongest since 2012 and builds on August’s 26,000 job gain, RBC Economics reported.

(Sept. 30, 2016) — The July increase builds further onto the 0.6 percent gain in June thus helping to more than reverse the wildfire-related 0.6 percent drop in May, said Ferley.

(Sept. 29, 2016) — Growth in consumer spending was little changed, up 4.3 percent versus 4.4 percent in the second estimate and still marking the strongest quarterly gain since the fourth quarter of 2014, said Janzen.

(Sept. 23, 2016) — The dip in nominal sales in July largely reflected a 3.0 percent pull-back in gasoline station sales reflecting lower prices. Motor vehicle sales declined 0.2 percent.

(Sept. 22, 2016) — The committee reducing the number of rate hikes in 2017 to two (from three in June) and maintaining three increases in 2018. The long-run fed funds rate project slipped to 2.9 percent from 3.0 percent, continuing the trend of downgrades, RBC reported.

(Sept. 15, 2016) — Retail sales in the United States fell 0.3 percent in August, short of market expectations for a 0.1 percent decline following July’s modest increase, RBC Economics reported.

(Sept. 9, 2016) — Canada’s August monthly employment increased by 26,200, but it did not fully offset the 31, 200 decline in July. However, it compared favorably to expectations for an August gain of 14,000, RBC Economics reported.

(Sept. 1, 2016) — “A sizeable decline in Q2 GDP was generally expected going into the report based on earlier indications that the Alberta wildfires, and attendant shutdowns of oil sands production, sent May GDP down sharply,” Ferley explained.

(Aug. 29, 2016) — “It is difficult to make the case that inflationary pressure at the consumer level is building in the United States, despite limited slack in the labor market and gradually rising wages,” said Nye.

(Aug. 26, 2016) — Second quarter gross domestic product growth for the United States was revised down to 1.1 percent from the already-modest 1.2 percent advance reading, RBC Economics reported, which noted the revision was in line with market expectations.


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