Economic Indicators

Fed’s Powell hints at road ahead for rate hikes

Powell signalled Friday that he expects the Fed to continue gradually raising interest rates if the U.S. economic expansion remains strong

By Staff, with files from The Associated Press |August 24, 2018

3 min read

Economic Indicators

Many Americans doubt effectiveness of tax cuts, tariffs: poll

Fewer than half of Americans expect President Donald Trump's tariffs to do much to help the U.S. economy

By The Associated Press |August 24, 2018

4 min read

Economic Indicators

Why clients could soon access a lot more real estate data

The Supreme Court of Canada has refused to hear an appeal from the country’s largest real estate board that would have prevented its members from posting home sales data on their websites, ending a years-long battle in a case that could have sweeping implications for consumer access across the country. Canada’s top court announced Thursday […]

By Tara Deschamps, The Canadian Press |August 23, 2018

3 min read

Economic Indicators

Record bull run? Time to help clients prepare for the worst

The economy is growing, the stock market is soaring and unemployment remains low. It’s the perfect time to prepare for the worst. Financial planners know that no party goes on forever. And it’s much easier to make smart decisions when things are going well than when times are tough. Now’s the time to help clients […]

By Staff, with files from The Associated Press |August 23, 2018

3 min read

U.S. banks made record $60B in profits in Q3

U.S. banks set a record by making more than $60 billion in profits in the second quarter, federal regulators said Thursday, up more than 25% from a year earlier. The Federal Deposit Insurance Corporation said the profit boost came because banks have been able to charge more interest on loans in recent months and received […]

2 min read

Retail sales fall in June, but GDP remains on track

Economic data released Wednesday shed little light on the Bank of Canada’s next move and don’t alter forecasts for second-quarter GDP, a CIBC economist said. Retail sales edged down 0.2% in June to $50.7 billion, following a 2.2% increase in May, says StatsCan. In a report, CIBC senior economist Royce Mendes says the drop was […]

By Staff |August 22, 2018

2 min read

Autos contribute to June wholesale sales drop

Statistics Canada says wholesale sales fell 0.8% in June to $63.1 billion. The drop came as the motor vehicle and parts subsectors saw sales drop 1.9% to $10.9 billion. The miscellaneous subsector fell 2.2% to $8.2 billion on lower sales in the agricultural supplies industry. Overall, Statistics Canada says sales were down in five of […]

1 min read

U.S. housing starts up slightly in July in face of high costs

U.S. housing starts ticked up just 0.9% in July, a sign that higher construction costs might be weighing on homebuilders. The Commerce Department said Thursday that housing starts last month rose to a seasonally adjusted annual rate of 1.17 million, not nearly enough to reverse the steep 12.9% plunge seen in June as rising lumber, […]

2 min read

Manufacturing sales rise 1.1% in June, boosted by oil and coal

Canadian manufacturing sales rose more than expected in June, boosted by a 16% surge in oil and coal shipments. Statistics Canada said Thursday manufacturing sales were up 1.1% to $58.1 billion in June, following a 1.5% increase in May. Economists had expected an increase of 0.9% in June, according to Thomson Reuters Eikon. In constant […]

2 min read