Written By Staff Source: The Canadian Press Posted on July 28, 2023 at 6:31 am Decrease article font size Increase article font size Statistics Canada is preparing to release its latest economic report for May, along with a preliminary overview of the second quarter. The early estimate from the federal agency shows a 0.4% growth …
By Staff The Canadian Press Posted July 21, 2023 10:07 am Decrease article font size Increase article font size Statistics Canada reports that retail sales in May increased by 0.2% to $66.0 billion, with new car dealers and grocery stores contributing to the gains. However, this figure fell short of the agency’s previous estimate of …
The Bank of Canada has adopted a more flexible approach to its messaging strategy compared to January when it announced a pause in rate hikes that resulted in a resurgence of the housing market. This led to increased inflation and the need to resume tightening measures five months later. After raising rates to a 22-year …
Decrease article font size Increase article font size The Bank of Canada has raised its benchmark interest rate by another 25 basis points, reaching levels not seen since 2001 due to concerns that the decline in inflation “could stall.” The central bank’s key interest rate now stands at 5.0 percent following consecutive hikes. Several economists, …
Decrease article font size Increase article font size Canada’s unemployment rate increased to 5.4% in June despite continued hiring by employers, as reported by Statistics Canada. The agency announced that Canada added 60,000 jobs, including 110,000 full-time positions, last month, the largest employment increase since January. However, the unemployment rate rose due to an increase …
By Staff The Canadian Press Posted June 30, 2023 6:31 am Decrease article font size Increase article font size A pair of significant economic reports are set to be released on Friday morning, signaling potential changes in Canada’s economic landscape. Statistics Canada will unveil its report on the performance of the economy in April through …
Empire Company Ltd. has announced an increase in its quarterly dividend alongside its report of a rise in fourth-quarter profit compared to the previous year. The grocery retailer, which owns Sobeys and Safeway among other banners, revealed that it will now pay a quarterly dividend of 18.25 cents per share, up from 16.5 cents per …
By Staff The Canadian Press Posted June 21, 2023 9:38 am Updated June 21, 2023 9:57 am Decrease article font size Increase article font size According to Statistics Canada, retail sales in April increased by 1.1% to reach $65.9 billion. The growth was primarily driven by general merchandise retailers and food and beverage stores. This …
Equifax Canada has revealed new data indicating a significant shift in credit usage among businesses during the first quarter of 2023. These numbers highlight growing financial stress in the industrial and financial trades, raising concerns about the stability of the Canadian economy. In this period, businesses’ outstanding balance on bank-issued instalment loans decreased by 2.4% …