Provincial & Local Analysis
November 14, 2024
Ontario’s Industry-based Outlook: Navigating Turbulent Waters
Ontario’s industry-based GDP managed to increase at a slightly faster year-on-year pace than the rest of Canada in the first half this year. This is noteworthy given that the province has had the weakest housing market in the country and is home to rate-sensitive, highly indebted households.
September 26, 2024
Canadian Housing Outlook: When the Trickle Becomes a Flood
The Canadian 5-year bond yield has declined over 100 bps since early May, while the Bank of Canada has cut its policy rate 3 times (with two more likely on tap this year). In short, the interest rate environment has significantly improved. Housing market activity is stirring, yet Canadian sales gains have, thus far, trailed what could typically be expected given this rush of rate relief.
July 18, 2024
Policymakers Take Note: Population Growth is Easing in the Atlantic
Population growth remains incredibly strong in the Atlantic Region. However, it is easing from sky-high rates, just as other parts of the country appear to be holding firm. We anticipate this trend towards slower population growth in the Atlantic will persist, marking a very important development for a region where economic growth has broadly benefitted more from recent population inflows.
