Canada\u0027s robust economic recovery masks a sagging standard of living that is among the worst of advanced economies, says TD. Read more.
_____________________________________________________________________Home sales will be hit by higher borrowing costs and tight inventory for the remainder of this year and next,
CREA slashed its forecast for home sales, predicting they would be down 6.8 per cent in 2023. Home sales are expected to rise over 11 per cent in 2024, less than previous forecasts.Article content “With the Bank of Canada unexpectedly ending its pause on rate hikes in June and hiking again in July, a major source of uncertainty has returned to the housing market,” the CREA said in a statement on Friday, July 14.Sales rose by 1.5 per cent after April and May saw gains of 11 and 4.6 per cent, respectively, said Desjardins principal economist Marc Desormeaux, who brings us today’s chart.
Inflation is centre stage in Canada this week. The Consumer Price Index, which comes out Tuesday, July 18, will be closely watched for hints on the Bank of Canada’s next move. CIBC chief economist Avery Shenfeld said Canadians can expect the news on CPI “will be similar in tone to what we saw stateside: better, but not yet good enough.” Stay tuned.
The eighth Australia-Canada Economic Leadership Forum opens in Toronto, with a provisional opening keynote by Prime Minister Justin Trudeau. This year’s theme focuses on “Sustainability, Recovery and Growth Post-Pandemic.”Canada wholesale trade, international securities transactions, Empire State Manufacturing SurveyArticle content
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