Canada’s GDP Growth Levelled Off in June, Appears Set to Stay Flat in July
Canada’s real GDP expanded by 0.5 per cent in the second quarter of 2024. On a real per capita basis, however, real GDP fell by 0.1 per cent. Statistics Canada noted that this was the fifth consecutive quarterly decline. Strong population growth continues to help maintain economic growth despite the currently restrictive monetary policy regime.
Off the Rails: Rail Stoppages Will Have Widespread Impacts
Roughly 9,000 workers at Canadian National (CN) and Canadian Pacific Kansas City Ltd (CPKC) have served a strike notice that could come into effect on Thursday August 22. Labour negotiations for these two companies usually occur in alternate years, so while we’ve had rail stoppages in the past, we have not experienced a situation where stoppages would occur for the two dominant industry players at the same time.
Canadian Immigration Summit 2024
The Canadian Immigration Summit brings together thought leaders from the public, private, and non-profit sectors alongside newcomers to explore how we can strengthen our immigration system and help immigrants and their communities thrive, now and in the future.
Ottawa • November 20-21, 2024
Featured Insights
Index of Consumer Confidence Drops in August
Canadian Economics August 30, 2024
The August survey results indicate that Canadians continue to have a negative outlook regarding their finances. The two consecutive key rate cuts that have been made by the Bank of Canada so far did not change much for households’ financial situations as they are still feeling the burden of accumulated debt levels.
Pace of Price Growth Moderated Further in July
Canadian Economics August 20, 2024
In July, CPI growth slowed to 2.5 per cent on a year-over-year basis from 2.7 per cent in June. Core inflation measures also decelerated—even shelter costs (which remain a concern for the Bank)—supporting the Bank of Canada’s dovish turn. Considering recent trends, the Bank has shifted some of its language for describing the inflation outlook.
Quick take • 3-min read
Kiefer Van Mulligen
A Not-So-Jovial June for Manufacturing
Canadian Economics August 16, 2024
A rail strike appears increasingly likely, and such an event could have significant economic consequences, disrupting the supply chain system. The ongoing labour dispute, involving workers at Canadian Pacific Kansas City (CPKC) and Canadian National (CN) railways, suggests that a strike could commence as early as August 22 if an agreement is not reached.
Quick take • 2-min read
Kiefer Van Mulligen
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