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Economy
From Border Blues to Local Boom: Canada’s 2025 Tourism Spending Outlook
Heading into peak summer travel season, many eyes will be on the performance of Canada’s tourism sector as it navigates a number of crosscurrents. On one side, visits from U.S. travelers are trending downwards amid ongoing trade tensions. On the flipside, the sector appears set to benefit from a continued rise in non-U.S. international visitors and, more importantly, solid gains in Canadian domestic travel. Predicting the overall fortunes of the sector will be determined by which of these two fo
June 26, 2025
Updated Publications
Provincial Housing Market Outlook: Firmer Back Half of 2025 in the Cards for Canadian Housing
We’ve modestly upgraded our home sales growth forecasts for the second half of the year across Canada. This represents the assumption that pent-up demand that was sidelined in a weaker-than-expected first half returns to the market.
June 25, 2025
Economy
TD Credit and Debit Card Spend Report: The Damage is Done
The latest TD Spend data suggest that Canadian consumers tightened their purse strings in the second quarter of 2025. We expect real consumer spending to be essentially flat for the quarter, with weaker momentum likely building into Q3.
June 24, 2025
Updated Publications
Provincial Economic Forecast
Provincial economies across the country benefitted from a sharp rise in exports in Q1 due to tariff-front running, but the near-term trade picture is indeed rocky. Ontario and Quebec will see disproportionate impacts from U.S. tariffs on the steel, aluminum, and automotive sectors. We’re also expecting that additional U.S. levies on copper, pharmaceuticals, semiconductors and lumber will be applied. Our assumption of a gradual easing in U.S. tariff rates by year end means that the stage is set
June 18, 2025
Updated Publications
Canadian Quarterly Economic Forecast
Dramatic policy shifts in Washington continue to drive the narrative underlying the global economic outlook. It has been a wild ride since our March forecast, with the Liberation Day tariffs initially proving to be far higher than expected, only to be delayed. It remains highly uncertain what path U.S. tariff policy will take, the biggest wildcard in our forecast. Our global outlook is based on an assumed path for U.S. tariffs that balances the likelihood for tariff deals, with the administratio
June 17, 2025
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Updated Publications
Updated Publications
Weekly Bottom Line
June 27, 2025
Updated Publications
Provincial Housing Market Outlook: Firmer Back Half of 2025 in the Cards for Canadian Housing
June 25, 2025
Updated Publications
Provincial Economic Forecast
June 18, 2025
Updated Publications
Canadian Quarterly Economic Forecast
June 17, 2025
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Updated Publications
Weekly Bottom Line
June 27, 2025
Updated Publications
Provincial Housing Market Outlook: Firmer Back Half of 2025 in the Cards for Canadian Housing
June 25, 2025
Updated Publications
Provincial Economic Forecast
June 18, 2025
Updated Publications
Canadian Quarterly Economic Forecast
June 17, 2025
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Latest Research
Economy
From Border Blues to Local Boom: Canada’s 2025 Tourism Spending Outlook
June 26, 2025
Economy
TD Credit and Debit Card Spend Report: The Damage is Done
June 24, 2025
Latest Research
Canadian Federal Housing Plan: The 500k Marathon
June 03, 2025
Latest Research
North American Auto Outlook 2025: Trade Headwinds to Stall Industry
May 28, 2025
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Economy
From Border Blues to Local Boom: Canada’s 2025 Tourism Spending Outlook
June 26, 2025
Economy
TD Credit and Debit Card Spend Report: The Damage is Done
June 24, 2025
Latest Research
Canadian Federal Housing Plan: The 500k Marathon
June 03, 2025
Latest Research
North American Auto Outlook 2025: Trade Headwinds to Stall Industry
May 28, 2025
View more latest research
Commentaries
Commentaries
Canadian Monthly GDP (April 2025)
June 27, 2025
Commentaries
Canadian Consumer Price Index (May 2025)
June 24, 2025
Consumer
Canadian Retail Sales (April 2025)
June 20, 2025
Real Estate
Canadian Existing Home Sales (May 2025)
June 16, 2025
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Commentaries
Canadian Monthly GDP (April 2025)
June 27, 2025
Commentaries
Canadian Consumer Price Index (May 2025)
June 24, 2025
Consumer
Canadian Retail Sales (April 2025)
June 20, 2025
Real Estate
Canadian Existing Home Sales (May 2025)
June 16, 2025
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