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Commentaries
July 15, 2024
Bank of Canada Business Outlook Survey and Canadian Survey of Consumer Expectations (2024 Q2)
According to the Bank of Canada Business Outlook Survey (BOS), Canadian business sentiment remained unchanged and somewhat downbeat in the second quarter of 2024. The BOS indicator, a statistical summary of survey results, was -2.90 in 2024 Q2 (vs. -2.39% in 2024 Q1).
July 05, 2024
Canadian Employment (June 2024)
The cooling in Canada's labour market continued in June. The month saw a very slight loss of jobs, though with the standard error on monthly job swings of 32k, it is technically statistically indistinguishable from zero. But, we only need to look at the steady rise in the unemployment rate to see that by nearly all metrics, job market conditions have softened.
June 13, 2024
Canadian Household Balance Sheet (2024 Q1)
Financial market strength combined with slower growth in mortgage debt delivered a boost to Canadian households' wealth. Despite the slight pull back in the debt-servicing burden, it remains near record highs, as payments and incomes are rising in tandem. Q1 GDP highlighted that although economic growth is moderating, wealth gains appear to be buoying consumer spending, with particular strength coming through on the household side on the first quarter reading.