CA: Indicators Real Time News items

FEBRUARY CANADIAN LABOR FORCE UP BY 21K JOBSPosted:12/03/2010 11:45 GMT by NeedToKnowNews
Net Change in employment m-o-m: 20.9KUnemployment rate m-o-m: 8.2%February Canadian Labour Force jumped 21K jobs, beating the consensus estimate of a 16k rise. Unemployment rate declined to 8.2% from 8.3% in January. Employment has been on an upward trend since July 2009. The increase in February was largely owing to a gain in full-time work (up 60K). Men aged 55 and over accounted for all of February's employment gain (up 26K). The largest employment increases in February were seen in accommodation and food services (up 27K), business building and other support services (up 18K), manufacturing (up 17K), health care and social assistance (up 16K), and natural resources (up 11K).
JANUARY CANADIAN NEW HOUSING PRICE INDEX UP 0.4%Posted:11/03/2010 13:16 GMT by NeedToKnowNews
Canada Total Change y/y : 0.1%Canada Total Change m/m: 0.4%House Only Change m/m: 0.5%Land Only Change: 0.1%Canadian January New Housing Price Index increased 0.4% from a 0.4% advance in December, coming in under the consensus estimate of a 0.6% gain. The price index now stands at 156.6.Prices between December and January increased the most in St.John's (up 1.7%), followed by Winnipeg (up 0.7%) and Toronto and Oshawa (up 0.6%). The largest monthly decline was seen in St.Catharines-Niagara (down 0.4%).On a y/y basis the index advanced 0.1% in January following a 0.9% retreat the month prior.The Canada wide house only index rose 0.5% and land only rose 0.1% on a m/m basis.
Q4 CANADIAN CAPACITY UTILIZATION ADVANCES TO 70.9%, FIRST SIZEABLE GAINS IN 3 YEARSPosted:11/03/2010 13:16 GMT by NeedToKnowNews
Industrial Capacity Use Q/Q: 70.9%Manufacturing Capacity Use Q/Q: 69.7%Canadian Industries operated at 70.9% of their capacity in Q4 up from a revised 68.7% in Q3 (previously reporter at 67.5%), coming in above the consensus estimate of 69.7%. This was the first sizeable increase since Q1 '07.Manufacturing industries used 69.7% of their capacity in Q4, an increase from a revised 67.7% in Q3 (previously reported 65.6%), beating consensus estimates of an increase to 66.2%. This marked the second consecutive increase after 9 quarters of declines. In the manufacturing sector, 13 of 21 industries recorded higher capacity use in Q4. The bulk of the contribution came from 4 industries, transportation equipment increased capacity use to 59.7% from 55.9%, primary metal manufacturers used 75.6% of their production capacity, up from 67.3%, paper manufacturing utilization increased to 83.5% from 77.5% and the chemical manufacturing industry operated @ 75.7% of its capacity, up from 72.8% in Q3. All non manufacturing sectors recorded gains in Q4 capacity use, following widespread declines in Q3. The growth was led by a 11% increase in capacity use in the forestry and logging industry. The mining sector also advanced 6.9% to make significant contribution to the overall statistic. Y/Y Industrial Capacity declined 4.7%.
JANUARY CANADIAN BUILDING PERMITS SLIDE 4.9%Posted:04/03/2010 13:15 GMT by NeedToKnowNews
Combined M-o-M: -4.9%Residential M-o-M: 4.1%Non-Residential M-o-M: -21.0% January Canadian building permits declined 4.9% from a revised 2.7% dip prior (previously reported as a 2.4% gain), disappointing the consensus estimates of a 0.9% rise. This decline was largely owing to a significant decline in building permits in the non-residential sector. Residential Permits increased 4.1% to C$4.0bln in January from a 0.1% retreat in December. Single-family permits rose 7.2% and have been on an upward trend since March 2009. Multi-family dwellings were down 1.7% from December, the first decline in two months. January non-residential building intentions plunged 21.0% to C$1.7bln following a 6.8% advance prior. The decline was largely owing to a drop in the commercial component (down 28.3%). This was a result of lower construction intentions for office buildings and recreational buildings in Alberta. The value of institutional building permits declined 15.3% as a result of declines in seven provinces. On a y/y basis combined permits were up 32.7%, residential intentions increased 96.3% and non-residential permits dipped 25.1%.
BoC MAINTAINS OVERNIGHT RATE @ 0.25%Posted:02/03/2010 13:45 GMT by NeedToKnowNews
Overnight Rate : 0.25%BoC continues to hold its target for the overnight rate @ 0.25%, meeting the consensus estimates. The bank rate is unchanged @ 0.5%, while the deposit rate remains at 0.25%.Strong domestic demand continues to drive the global economic recovery, as the Canadian economy expanded by 5% in the last quarter of '09, on vigorous domestic spending and a significant recovery in exports. BoC reiterated that the underlying factors supporting Canada's recovery, remain unchanged; namely, policy stimulus, increased confidence and financial conditions, global growth, and higher terms of trade.Higher level of economic activity along with the result of transitory factors have pushed core inflation higher than projected, stated BoC. Despite this rise, BoC's outlook for inflation should continue to reflect the combined influences of stronger domestic demand, slowing wage growth and overall excess supply. In order to achieve the inflation target, the overnight rate can be expected to remain @ 0.25% until the end of the Q2 '10. The main upside risk to the outlook for inflation are stronger than projected global and domestic demand, and the main downside risk would be attributable to the strength in the CAD. The bank stated, the main macroeconomic risks to inflation projection are roughly balanced, as compared to them being on the lower end in the previous rate announcement. The next rate announcement will be on April 20. BoC will also release a full update of the bank's outlook for the economy and inflation projection in its Monetary Policy Report (MPR) on April 22.
DECEMBER CANADIAN GDP BY INDUSTRY JUMPS 0.6%Posted:01/03/2010 13:15 GMT by NeedToKnowNews
Headline GDP M/M: 0.6%Goods Producing Industries M/M: 1%Service Producing Industries M/M: 0.4% Canadian GDP By Industry rose 0.6% in December after climbing 0.4% the month prior , upsetting the consensus estimates of a 0.3% rise. This marked the fourth consecutive monthly advance.Goods producing industries also posted its fourth consecutive increase, growing 1%, led by gains in the mining (+1.6%) and manufacturing (+1%) sectors. Growth in the manufacturing sector came from an 11% increase in motor vehicles and parts manufacturing.Service producing industries gained 0.4% on a 1.5% increase in the volume of wholesaling activities, reflecting increases in exports, imports and retail trade. Retail trade sector jumped by 0.7% and construction activity was 0.5% higher in December.
JANUARY CANADIAN IPPI UP 0.3%, RMPI JUMPS 3.3%Posted:01/03/2010 13:15 GMT by NeedToKnowNews
IPPI m-o-m : 0.3%IPPI Ex-Petroleum and Coal products: 0.1%RMPI m-o-m: 3.3%RMPI Ex-mineral fuels: 1.2%January Canadian IPPI rose 0.3% from a revised 0.1% gain in December (previously reported as a 0.1% decline), coming in below the consensus estimate of a 0.6% gain. The increase was led by a rebound in petroleum prices (up 4.4%) and marked the third monthly consecutive advance. Excluding petroleum and coal products, IPPI edged down 0.1% in January following a revised 0.3% gain prior (previously reported flat).IPPI y/y declined 0.3%, mainly owing to lower prices for motor vehicles and other transportation equipment (down 9.5%).RMPI jumped 3.3% in January following a 1.7% rise the month prior. The increase was led by rising prices for mineral fuels, particularly crude oil (up 5.6%). Excluding mineral fuels, RMPI was up 1.2% following a 1.1% gain.Year-over-year, RMPI posted a 29.3% advance, largely attributable to a 62.3% rise in the price of mineral fuels and a 39.6% increase in the price of non-ferrous metals.
CANADIAN ECONOMY GAINS MOMENTUM, GROWS 1.2% IN Q4Posted:01/03/2010 13:15 GMT by NeedToKnowNews
GDP Quarterly Annualized: 5%GDP-Real Quarterly Change: 1.2%Quarterly Services: 0.8%Quarterly Personal Expenditure: 0.9%Canadian Q4 real GDP jumped 1.2% after advancing a revised 0.2% in Q3 (previously reported as a 0.1% gain), beating the consensus estimates of a rise by 0.6%. This marked the largest quarterly increase since Q3 '00. Final domestic demand grew at a 1.1% pace, led by increases in personal expenditures, govt expenditures and investment in residential structures.At an annualized rate, GDP surged 5% from a 0.9% climb in Q3. Growth in Service producing Industries was up 0.8%, with wholesale trade (+2.8%), and activities of real estate agents and brokers (+9.5%) leading the way, reported Statscan. Goods producing industries recorded its first quarterly gain since Q2 '07, rising 2.1%, as all sectors posted significant gains.Personal expenditures climbed 0.9%, as households spent more on durable goods (+2.6%). Expenditure in the service sector also advanced 1%.Businesses reduced investment in plant and equipment by 2.3%, following a 1.6% increase in the previous quarter.Exports of goods and services climbed 3.7% in Q4, led by a 13% rise in exports of automotive products. Energy product exports were 5.7% higher. Imports grew 2.2% in Q4, on automobile products (+25%) and machinery and equipment (+9.8%).Canada's terms of trade strengthened for a third consecutive quarter as export prices rose 1.9% and import prices declined 0.8%.Nominal GDP was up 2.4%, on a 9% gain in corporate profits.
DECEMBER CANADIAN NON FARM PAYROLL EMPLOYMENT UP 0.2%, AVG WEEKLY EARNINGS UP 0.9%Posted:25/02/2010 13:15 GMT by NeedToKnowNews
Avg Weekly Earnings Change (Industrial agg) m/m : 0.9%Avg Weekly Earnings Change (Industrial agg) y/y : 2.8%Number of Payroll Employees Change (Industrial agg) m/m :0.2%Canadian Non-farm payrolls jumped 0.2% (22k) in December following a 0.2% loss in November. Despite this gain payroll employment remained down 380k, since October '08. The gain in this statistic was restricted by job declines in transportation and warehousing (-0.4%) and public administration (-0.1%). A number of industries have increased payroll employment, signaling a shifting trend since August. In the past 4 months, construction sector advanced by 19.3k jobs (+2.4%), Health care employment jumped 3%, educational services climbed 2.2% and public administration grew by 0.8%.The manufacturing sector continued to shed payroll employment (-0.1%) as job loss pace slowed considerably to 2.1k/month on an average since August. Average weekly earnings were up 0.9% and 2.8% on a m/m and y/y basis respectively, marking the fastest y/y growth, since the peak in October '08. Upward contribution to the y/y statistic came from health care and social assistance (+5.6%), accommodation and food services (+4.8%), public administration (+3.8%), retail trade (+3.8%), educational services (+3.3%) and manufacturing (+2.7%).
CJANUARY CANADIAN LEADING INDICATORS ADVANCE 0.9%Posted:19/02/2010 13:15 GMT by NeedToKnowNews
Composite Leading Indicators: 0.9% Manufacturing
DECEMBER CANADIAN RETAIL SALES CLIMB 0.4%Posted:19/02/2010 13:15 GMT by NeedToKnowNews
Ex-Autos m/m : 0.4%Total Retail Sales m/m : 0.4%December Canadian retail sales advanced 0.4% to C$35.3bln, following a revised drop of 0.5% (previously reported as a 0.3% decline), meeting the consensus estimates. In volume terms sales were up 0.6%.Five of eight retail sectors were responsible for this gain, with the largest contribution coming from sales @ general merchandisers (+3.3%). Clothing and accessories store sales jumped 2.1% and the automotive sector posted a rise of 0.9%. Gasoline sales were up 2.2%, recording an increase for the fifth month in a row. The rise in the statistic was dampened by sales at food and beverage stores (-1.3%) and supermarkets (-1.5%).Sales ex-autos were up 0.4% in December, after a 0.2% dip in the month prior.
DECEMBER CANADIAN INTERNATIONAL SECURITY TRANSACTIONS INFLOWS UP C$11.231BLN, OUTFLOWS UP C$663MLNPosted:18/02/2010 13:15 GMT by NeedToKnowNews
Inflows: C$11,231mlnOutflows: C$663mlnForeign acquisitions of Canadian securities surged by C$11.231bln in December from a revised jump of C$10.580bln prior (previously reported as a C$10.538bln rise), beating the consensus estimates. The main upward contribution came from a C$9.468bln investment in Canadian bonds. Foreigners added C$5.3bln in federal bonds on secondary markets and the balance were acquisitions of new provincial govt bonds, denominated in foreign currencies. Total investment in Canadian bonds for '09 reached C$82.5bln. Non-residents also invested C$1.244bln in Canadian stocks, and C$519mln in Canadian money market paper. Foreign acquisitions of Canadian shares reached a total of C$26.2bln for '09.Canadian investors increased holdings of foreign securities by C$663mln in December, upsetting the consensus estimate of rising by C$1bln. Investors sold C$801mln of foreign money market paper in December, and acquired C$337mln in foreign bonds. Canadian investors added C$1.126mln worth of foreign equity to their portfolios in December after three months on disposition.
CANADIAN JANUARY CPI M/M ADVANCES 0.3%, JUMPS 1.9% Y/YPosted:18/02/2010 11:45 GMT by NeedToKnowNews
Headline CPI M-o-M: 0.3%Ex Food and Energy M-o-M: -0.1%Core CPI M-o-M: 0.1%Headline CPI Y-o-Y: 1.9% Core CPI Y-o-Y: 2.0%Consumer Prices advanced 0.3% in January after retreating 0.3% in December, coming in below the consensus estimate of a 2.0% gain. CPI y/y increased 1.9% after rising 1.3% the month prior, marking the largest increase since November 2008. The y/y gain was significantly owing to Gasoline Prices which were 23.9% higher than in January 2009.Upward contributors were Gasoline (up 3.6%), Natural Gas (up 7.2%), Non-Alcoholic Beverages (up 9.1%), Purchase of Passenger Vehicles (up 1.0%) and Telephone Services (up 1.3%). Excluding Food and Energy, m/m CPI edged down 0.1% in January after decreasing 0.4% in December.Core CPI m/m rose 0.1% in January from a 0.3% loss prior. Core CPI y/y jumped 2.0% from a 1.5% rise previously. Downward contributors were Travel Tours (down 18.6%), Mortgage Interest Cost (down 0.4%), Sporting Equipment (down 6.0%), Fresh Vegetables (down 1.9%) and Electricity (down 0.6%).
DECEMBER CANADIAN WHOLESALES SALES RISE 0.7%Posted:17/02/2010 13:15 GMT by NeedToKnowNews
Inventories m/m: -0.5%Sales m/m: 0.7%Sales Ex-Autos : 0.7%Canadian Wholesale sales climbed 0.7% to C$42.8bln in December from a 2.5% gain in November, upsetting the consensus estimate of a 1.6% rise. This marked the sixth increase in 7 months. The jump was a result of a 1.2% rise in the machinery and electronic equipment sector as all trade groups reported higher sales. Other contributors to the increase were other products sector (+1.4%), building materials (+1.3%) and automotive products (+0.9%).In volume terms, sales were up 1.5%.Wholesale inventories retreated 0.5% to C$53.5bln from a 0.2% slide prior, marking the tenth consecutive monthly decrease and reaching the lowest level since Dec '06. The declines were seen in the pharmaceuticals group (- 3.8%), building supplies (-1.6%), and computer and other electronic equipment (-5.5%) as 10 of 15 trade groups reported lower inventory levels. A 3.5% increase in the other products partially offset the decrease. The fall in inventories along with a increase in sales pushed the inventory-to-sales ratio to 1.25 from 1.27 in November.Ex-Autos, October sales were up 0.7% from a 1.5% gain prior.
DECEMBER CANADIAN MANUFACTURING SALES JUMP 1.6%Posted:16/02/2010 13:15 GMT by NeedToKnowNews
Change in Inventories: -1.0% Change in Inventories ex-Petroleum: -1.35% Change in Sales (Shipments): 1.6% Inventory/Sales Ratio: 1.37 December Canadian manufacturing sales advanced 1.6% to C$43.0bln, beating the consensus estimate of a 0.5% gain. These gains were largely owing to the Transportation Equipment Industry (up 7.6%). This marked the sixth increase in overall manufacturing sales in seven months and the highest level since December 2008. Other upward contributors were Aerospace Product and Parts (up 28.1%), Motor Vehicle (up 4.4%) and Petroleum and Coal Products (up 2.4%). Inventory levels declined 1.0% to C$59.0bln in December from a revised 0.3% slide (previously reported a 0.2% retreat), marking the tenth decrease in 2009. Change in inventories excluding petroleum posted a 1.35% drop in December. Unfilled orders increased 2.3% to C$52.4Bln following a five consecutive monthly declines. Inventory to Sales Ratio is at 1.37 for December.
DECEMBER CANADIAN NEW MOTOR VEHICLE SALES CLIMB 2.6%Posted:12/02/2010 13:15 GMT by NeedToKnowNews
New motor Vehicle Sales: 128.663k% Change Sales: 2.6%December Canadian new motor vehicle sales jumped 2.6% after declining 6% in November, beating the consensus estimates of a 2.2% rise. Higher sales of north American built passenger cars (+5.1%) led the increase in the statistic. Average annual sales for '09 were around 120k units, compared to 140k for '08. Sales of new passenger cars increased 2.5% to 64.568k units in December while the number of overseas built passenger card sold dipped 1%. New truck sales advanced 2.7% to 64.095k units, partly offsetting the decrease in November.Preliminary data indicate, new motor vehicle sales remained relatively unchanged in January.
DECEMBER CANADIAN NEW HOUSING PRICE INDEX CLIMBS 0.4%Posted:11/02/2010 13:15 GMT by NeedToKnowNews
Canada Total Change y/y : -0.9%Canada Total Change m/m: 0.4%House Only Change m/m: 0.5%Land Only Change: -0.1%Canadian December New Housing Price Index increased 0.4% from a 0.4% advance in November, meeting the consensus estimate. The price index now stands at 156.Prices between November and December increased the most in Ottawa-Gatineau (up 0.8%), followed by St.John's, Toronto, Oshawa and Vancouver, all posting a 0.7% gain.Of the 21 Metropolitan areas surveyed, only Calgary and Victoria (both down 0.2%) saw declines in new housing prices. On a y/y basis the index retreated 0.9% in December following a 1.4% dip the month prior.The Canada wide house only index rose 0.5% and land only edged down 0.1% on a m/m basis.
DECEMBER CANADIAN TRADE BALANCE POSTS C$246MLN DEFICITPosted:10/02/2010 13:15 GMT by NeedToKnowNews
Merchandise Trade Balance M/M: -0.246blnExports M/M: 32.19blnImports M/M: 32.436bln December Canadian trade balance posted a deficit of C$0.246bln from a revised deficit of C$0.201bln (previously reported as a deficit of C$0.344bln), beating the consensus estimates of a C$0.150bln deficit.Exports advanced 1.7% to C$32.190bln, marking the fourth consecutive monthly gain. The increase was a result of a 2.1% increase in volumes and a 0.4% dip in prices. An 8.1% increase in the exports of automotive products led the advance, accounting for almost two thirds of the growth for December. The bulk of this increase was due to a 11.3% rise in volumes. Other upward contribution came from exports of machinery and equipment (+3.4%) and energy products (+1.5%) .Imports jumped 1.8% to C$32.436bln in December on a 1.1% rise in volumes, and 0.7% climb in prices. The increase was once again largely owing to Automotive products (+6%), as imports of motor vehicle parts gained 11.1%. Imports of industrial goods and materials was up 3% and energy products grew 5.4%.Exports to the United States grew 2.9% and Imports increased 2%, widening Canada's trade surplus with the US to C$3.7bln from C$3.4bln. Canada's trade deficit with countries other than the US widened to C$3.9bln in December from C$3.6bln prior, owing to a 1.8% retreat in exports and a 1.5% rise in imports.
JANUARY CANADIAN LABOUR FORCE POSTS 43K JOB GAINPosted:05/02/2010 11:45 GMT by NeedToKnowNews
Net Change in employment m-o-m: 43KUnemployment rate m-o-m: 8.3January Canadian Labour Force jumped 43K jobs, beating the consensus estimate of a 17k rise. Unemployment rate declined to 8.3% from 8.4% in December. This marks the fourth employment gain in six months, however, employment still remains 280K below the level of October 2008. Employment gains were largely owing to women and youths aged 25 to 54. Youths saw a 29K job gain and Women recorded employment growth of 32K. Part-time employment posted large increases bringing it back to the level of six months earlier. The largest employment increases in January occurred in Business Building and Other Support Services, (up 34K) and Retail and Wholesale Trade (up 23K).
DECEMBER CANADIAN BUILDING PERMITS ADVANCE 2.4%Posted:04/02/2010 13:15 GMT by NeedToKnowNews
Combined M-o-M: 2.4%Residential M-o-M: -0.1%Non-Residential M-o-M: 6.8% December Canadian building permits advanced 2.4% from a revised 3.2% dip prior (previously reported as an 4.6% decrease), disappointing the consensus estimates of a 2.7% rise. This increase was a result of a 6.8% gain in the non-residential sector. Residential Permits edged down 0.1% to C$3.9bln as declines ins Ontario, Alberta and Manitoba offset gains in BC. This marked the first decrease after 9 consecutive monthly climbs.Value of permits for single-family dwellings retreated 1.3% to C$2.5bln in November, reported Statscan. Permits for multi-family dwellings advanced 2.1% to C$1.3bln on higher construction intentions in 4 provinces. October non-residential building intentions climbed 6.8% to C$2.3bln following a 21.9% slide. This increase stemmed primarily from commercial components in Alberta & Ontario. Building intentions in the industrial and institutional components, were down 19% and 21.9% respectively. Commercial permits were up for the third straight month, rising 29.2% to C$1.5bln on construction intentions for office buildings in Alberta and Ontario, reported Statscan.Total dwellings approved by the municipalities grew 2.4% to 18,321 in December.On a y/y basis combined permits were up 32.6%, residential intentions increased 47.3% and non-residential permits grew by 13.3%.
NOVEMBER CANADIAN GDP BY INDUSTRY JUMPS 0.4%Posted:29/01/2010 13:16 GMT by NeedToKnowNews
Headline GDP M/M: 0.4%Goods Producing Industries M/M: 0.6%Service Producing Industries M/M: 0.4% Canadian GDP By Industry rose 0.4% in November after climbing a revised 0.3% (previously reported as a 0.2% gain) the month prior , upsetting the consensus estimates of a 0.3% rise. This marked a third consecutive monthly advance.Goods producing industries also posted its third consecutive increase, growing 0.6% as all sectors except Utilities (-1.1%), advanced. Mining and oil and gas extraction (+1.8%) led the increase, followed by agriculture, forestry, fishing and hunting (+1.6%) and Construction (+1.1%). Manufacturing sector remained flat after jumping 0.1% in October.Service producing industries gained 0.4% on a 2.4% increase in the volume of wholesaling activities. The most notable increases were from wholesaling of food products, motor vehicles and building supplies. Strong activity in bond markets and mutual fund sales pushed finance and insurance sector up 1.2%. Retail trade sector shrunk by 0.8% on weak auto sales. Decrease in sales were also observed in general merchandise stores and clothing and accessories stores.
NOVEMBER CANADIAN WHOLESALE SALES RISE 2.5%Posted:21/01/2010 13:15 GMT by NeedToKnowNews
Inventories m/m: -0.2%Sales m/m: 2.5%Sales Ex-Autos : 1.5%Canadian Wholesale sales surged 2.5% to C$42.4bln in November from a revised 0.5% gain in October (previously reported as a 0.3% climb), beating the consensus estimate of a 0.3% rise. This marked the fifth increase in 6 months. The jump was a result of a 7.8% rise in the automotive sector. Other contributors to the increase were food,beverages and tobacco products sector and other products sector, both posting gains of 2.5%.In volume terms, sales were up 2.1%.Wholesale inventories retreated 0.2% to C$53.8bln from a 1.6% slide prior, marking the ninth consecutive monthly decrease and reaching the lowest level since July '07. The declines were seen in the Machinery and Equipment group (- 1.5%), and the other products sector (-1.7%) as 9 of 15 trade groups reported lower inventory levels. A 4.9% increase in the pharmaceuticals partially offset the decrease. The fall in inventories along with a increase in sales pushed the inventory-to-sales ratio to 1.27 from 1.31 in October.Ex-Autos, October sales were up 1.5% from a 0.1% gain prior.
NOVEMBER CANADIAN MANUFACTURING SALES ADVANCE 0.1%Posted:20/01/2010 13:15 GMT by NeedToKnowNews
Change in Inventories: -0.3% Change in Inventories ex-Petroleum: -1% Change in Sales (Shipments): 0.1% Inventory/Sales Ratio: 1.40 November Canadian manufacturing sales advanced 0.1% to C$42.6bln, upsetting the consensus estimates of a 0.8% climb. The increase was a result of a gain in non-durable goods industries, which were up 1% compared to October levels. Sales were up in 12 of the 21 manufacturing industries, accounting for approximately 57% of total sales. This jump, marked the fifth increase in 6 months. Chemical manufacturers sales were up 5.3%, petroleum and coal product industry saw sales rise by 2.9% on a 4.7% increase in prices. Transportation industry offset these gains, by declining 4.3% in November. Aerospace products and parts production retreated 15.4% after surging 48.2% the month prior. Sales of motor vehicles also dropped 4.5% after two monthly gains. Inventory levels edged down 0.3% to C$59.7bln, marking the tenth decrease in 12 months. Inventories were lower in 16 of 21 industries, led by a 3.4% decrease in the transportation equipment industry. This in turn pulled back the inventory-to-sales ratio to 1.40 from 1.41 in October, reaching its lowest level since October '08 (1.34). Unfilled orders declined for a fifth consecutive month, falling 1.4% to C$51.5bln and hit its lowest level since March '07. New orders increased 3.2% to C$41.9bln, rebounding from the 2.2% drop seen the month prior.
CANADIAN DECEMBER CPI M/M RETREATS 0.3%, UP 1.3% Y/YPosted:20/01/2010 11:45 GMT by NeedToKnowNews
Headline CPI M-o-M: -0.3%Ex Food and Energy M-o-M: -0.4%Core CPI M-o-M: -0.3%Headline CPI Y-o-Y: 1.3% Core CPI Y-o-Y: 1.5%Consumer Prices dipped 0.3% in December after retreating 0.5% in November, coming in below the consensus estimate of a 0.2% drop. CPI y/y increased 1.3% after rising 1.0% the month prior, marking the largest increase since February 2009. The y/y gain was significantly owing to Gasoline Prices which were 25.6% higher than in December 2008. Upward contributors were Purchase of Passenger Vehicles (up 2.0%), Fresh Vegetables (up 5.7%), Air Transportation (up 2.0%), Bakery Products (up 1.2%) and Homeowners' Replacement Cost (up 0.4%). Excluding Food and Energy, m/m CPI declined 0.4% in December after advancing 0.2% in November.Core CPI m/m dipped 0.3% in December from a 0.4% gain prior. Core CPI y/y jumped 1.5% from a 1.5% rise in previously. Downward contributors were Gasoline (down 2.9%), Women's Clothing (down 6.6%), Furniture (down 5.0%), Men's Clothing (down 5.2%) and Video Equipment (down 11.0%).
BoC CONTINUES TO HOLD OVERNIGHT RATE @ 0.25%Posted:19/01/2010 13:45 GMT by NeedToKnowNews
Overnight Rate : 0.25%BoC continues to hold its target for the overnight rate @ 0.25%, meeting the consensus estimates. The bank rate is unchanged @ 0.5%, while the deposit rate remains at 0.25%.Improving financial conditions along with stronger domestic demand growth are signs the global economic recovery is underway. Growth was back in the positive territory for the Canadian economy in Q3 '09 and is expected to have gained momentum into Q4. Total CPI inflation was also on the plus side in Q4 and the core rate of inflation has been a bit higher than expected in recent months. Despite this green outlook, excess supply still remains, as the bank judges the economy was operating approximately 3.25% below its production capacity in Q4 '09.As forecasted in October's MPR, the Canadian economy is expected to return to full capacity and inflation to the 2% target in Q3 '11. The bank now predicts the economy will grow by 2.9% in '10 (earlier stated as +3% in October's MPR), followed by a 3.5% growth rate in '11 (previously reported as +3.3% in October's MPR). This growth will follow the 2.5% contraction seen in '09.In order to achieve the inflation target, the overnight rate can be expected to remain @ 0.25% until the end of the Q2 '10. The main upside risk to the outlook for inflation are stronger than projected global and domestic demand, and the main downside risk would be attributable to the strength in the CAD. As a consequence of operating @ the lower bound, the overall risks to its inflation projection are tilted slightly to the downside, stated BoC.The next rate announcement will be on March 2. BoC will also release a full update of the bank's outlook for the economy and inflation projection in its Monetary Policy Report (MPR) on January 21.
NOVEMBER CANADIAN INTERNATIONAL SECURITY TRANSACTIONS; INFLOWS UP C$10.538BLN, OUTFLOWS UP C$2.437BLNPosted:18/01/2010 13:15 GMT by NeedToKnowNews
Inflows: C$10,538mlnOutflows: C$2,437mlnForeign acquisitions of Canadian securities surged by C$10.538bln in November from a revised jump of C$5.949bln prior (previously reported as a C$5.8bln rise), beating the consensus estimates. The main upward contribution came from a C$12.904bln investment in Canadian private sector and government bonds. Foreign investment in Canadian debt securities comprised of C$1.6bln acquisition of federal bonds, C$3.1bln in provincial bonds and a C$7.2bln addition to Canadian private corporate bonds. Investment in Canadian stocks and money market paper, were down C$464mln and C$1.902bln respectivelyCanadian investors increased holdings of foreign securities by C$2.437bln in November, beating the consensus estimate of depleting by C$2bln. Investors acquired C$2.6bln of foreign debt instruments in November, making it the largest acquisition since June '07, reported Statscan. Canadian investors returned to US govt debt by adding C$1.3bln in US T-bonds and C$1.4bln in T-bills. Canadian investors divested C$178mln of foreign stock in November and added C$1.514bln in money market paper.
NOVEMBER CANADIAN IPPI RISES 1%, RMPI JUMPS 2.2%Posted:05/01/2010 13:15 GMT by NeedToKnowNews
IPPI m-o-m : 1%IPPI Ex-Petroleum and Coal products: 0.5%RMPI m-o-m: 2.2%RMPI Ex-mineral fuels: 2.4%November Canadian IPPI jumped 1% after dropping 0.3% in October, coming in above the consensus estimate of a 0.6% gain and marked the first increase in 3 months. The increase was a result of a 4.9% rise in the prices for petroleum and coal products and a 1.6% climb in primary metal products. Excluding petroleum and coal products, IPPI advanced 0.5% following a 0.5% dip prior, recording its first rise since March '09.IPPI y/y declined 2.8%, marking its ninth consecutive yearly decline. This was mainly a result of the 15% appreciation of the CAD since Nov ' 08.RMPI increased 2.2% in November following a 2.5% rise the month prior, beating the consensus estimates of a 1.6% gain. The upward contribution came from a 2.1% rise in the price of mineral fuels, and a 4.8% increase in the price of non-ferrous metalsExcluding mineral fuels, RMPI was up 2.4% following a revised 0.1% gain (previously reported as remaining flat).Year-over-year, RMPI posted its first increase after 13 months, rebounding with a 9.3% advance, largely attributable to a 16.1% rise in the price of mineral fuels and a 28.8% increase in the price of non-ferrous metals.
OCTOBER CANADIAN GDP BY INDUSTRY ADVANCES 0.2%Posted:23/12/2009 13:15 GMT by NeedToKnowNews
Headline GDP M/M: 0.2%Goods Producing Industries M/M: 0.1%Service Producing Industries M/M: 0.2% Canadian GDP By Industry rose 0.2% in October after climbing 0.4% the month prior , upsetting the consensus estimates of a 0.4% rise. This marked a second consecutive monthly advance. Goods producing industries also posted its second consecutive increase, growing 0.1% on a 2.4% increase in the utilities sector. Mining and oil and gas extraction was up 0.4% and Construction recorded a 0.1% gain. Manufacturing remained flat after increasing 1% in September. Service producing industries gained 0.2% on a 7.2% increase in the activity for real estate agents and brokers. Retail trade sector grew 0.3% on strong auto sales and volume of wholesaling activity climbed 0.2% in October.
PREVIEW: OCTOBER CANADIAN RETAIL SALES UP 0.8%Posted:21/12/2009 13:15 GMT by NeedToKnowNews
Total Retail Sales M-o-M: 0.8%Retail Sales Ex-Auto M-o-M: 0.2%Canadian October retail Sales advanced 0.8% to C$35.3bln from a revised 1.1% rise prior (previously reported as a 1.0% increase), beating the consensus estimate of a 0.9% advance. This marked the seventh increase in 10 months. The automotive sector climbed 3.0%, as all components posted higher sales. Sales at new car dealers increased 3.6%, marking its seventh consecutive monthly increase. Clothing and accessories posted a 1.9% jump, the largest gain since January 2009. Other upward contributors were sales at clothing stores (up 1.6%) and Shoe, Clothing, Accessories and Jewelry stores (up 2.8%), its third consecutive month of strong sale increases. Retail Sales Ex-Autos (excluding gasoline) edged up 0.2% in October following a revised 1.0% increase in September (previously reported as a 1.1% advance).Y-o-Y Retails Sales retreated 1.4% and Ex-Auto declined 1.6%.
OCTOBER CANADIAN WHOLESALE SALES EDGE UP 0.3%Posted:18/12/2009 13:15 GMT by NeedToKnowNews
Inventories m/m: -1.5%Sales m/m: 0.3%Sales Ex-Autos : 0.1%Canadian Wholesale sales advanced 0.3% to C$41.1bln in October from a revised 0.1% gain in September (previously reported as a 0.2% climb), coming in below the consensus estimate of a 0.4% rise. This marked the fourth increase in 5 months. The small jump was a result of increases seen in the automotive products and machinery and electronic sectors, up 1.5% and 1.1% respectively. Downward pressure came from food,beverage and tobacco products sector (-1.8%) and the other products sector (- 0.2%).Wholesale inventories dropped 1.5% to C$54bln from a 1% slide prior, marking the eighth consecutive monthly decrease and reaching the lowest level since September '07. The largest declines were seen in the Machinery and Equipment group (- 3.6%), and the other products sector (-1.6%).The fall in inventories along with a increase in sales pushed the inventory-to-sales ratio to 1.31 from 1.34 in September.Ex-Autos, October sales were up 0.1% from a 0.6% gain prior.
OCTOBER CANADIAN INTERNATIONAL SECURITY TRANSACTIONS; INFLOWS UP C$5.814BLN, OUTFLOWS DOWN C$4.196BLNPosted:17/12/2009 13:15 GMT by NeedToKnowNews
nflows: C$5814mlnOutflows: -C$4196mlnForeign acquisitions of Canadian securities increased by C$5.8bln in October from a revised jump of C$13.272bln prior (previously reported as a C$13.59bln rise), meeting the consensus estimates.. The main upward contributor was a C$6.034bln rise in Canadian bonds, recording the largest inflow since May '09. Till date foreigners have added C$86.4bln in Canadian securities, exceeding any previous annual foreign investment, reported Statscan. Foreign investment in Canadian debt securities comprised of C$4.5bln acquisition of federal bonds and a C$1.8bln addition to Canadian private corporate bonds. Non-residents continued to add Canadian equities to their portfolios, acquiring C$1.352bln worth in October. Non-residents favored gold mining stocks and divested from technology and energy shares. Foreigners disposed C$1.571bln of Canadian money market instruments in October. Canadian investors once again decreased holdings of foreign securities by C$4.196bln, beating the consensus estimate of depleting by C$1bln. Canadian investors sold C$1.91bln of foreign bonds in October and reduced holding of foreign stock by C$1.923bln. Divestment was also noted in foreign money market paper as residents trimmed their holding by C$363mln.
NOVEMBER CANADIAN CPI M/M ADVANCES 0.5%, UP 1.0% Y/YPosted:17/12/2009 11:45 GMT by NeedToKnowNews
Headline CPI M-o-M: 0.5%Ex Food and Energy M-o-M: 0.2%Core CPI M-o-M: 0.4%Headline CPI Y-o-Y: 1.0% Core CPI Y-o-Y: 1.5%Consumer Prices jumped 0.5% in November after retreating 0.1% in October, beating the consensus estimate of a 0.3% increase. CPI y/y increased 1.0% after falling 0.1% the month prior. Upward contributors were Purchase of Passenger Vehicles (up 5.0%), Gasoline (up 3.2%), Fresh Vegetables (up 16.3%), Telephone Services (up 2.3%) and Fuel Oil and Other Fuels (up 9.9%).Excluding Food and Energy, m/m CPI increased 0.2% in November after advancing 0.2% in October.Core CPI m/m advanced 0.4% in November from a 0.1% gain prior. Core CPI y/y jumped 1.5% from a 1.8% rise in October. Downward contributors were Air Transportation (down 11.3%), Traveler Accommodation (down 7.1%), Homeowners' Home and Mortgage Insurance (down 2.9%), Mortgage Interest Cost (down 0.5%) and Women's Clothing (down 1.0%).
OCTOBER CANADIAN MANUFACTURING SALES CLIMB 2%Posted:16/12/2009 13:15 GMT by NeedToKnowNews
Change In Inventories m/m: 0.1% Inventories ex-petroleum: -0.3%Change in Sales m/m: 2% Inventory/Sales Ratio m/m: 1.41October Canadian manufacturing sales surged 2% to C$42.5bln from a revised 1% gain prior (previously reported as a 1.4% rise), beating the consensus estimate of a 0.8% gain. This was the fourth increase in five months. The upward contribution to October's statistic came from aerospace product and parts (+54.1%) and petroleum and coal products (+7.2%). Auto sales also recorded an increase of 2.9% in October. Inventory levels edged up 0.1% to C$59.9bln after a revised 2.2% loss prior (previously reported as 1.9% retreat). This was the first increase since Jan '09. Petroleum and coal products (+6.2%) along with food manufacturing (+1.9%) led the 1.6% rise in non-durable goods industries. Primary metal industry posted a drop of 2.5% and led the 0.8% decline in durable goods industries. In constant dollars manufacturing sales jumped 1.2%.Excluding petroleum, inventories declined 0.3%The inventory-to-sales ratio fell to 1.41 in October.The backlog of unfilled orders retreated 3.4% to C$51.8bln, marking its fourth consecutive decline and reached its lowest level since Apr '07. New orders also dropped 1.8% to C$40.7bln following a 7.9% gain in September.
NOVEMBER CANADIAN LEADING INDICATORS POST 1.3% GAINPosted:15/12/2009 13:16 GMT by NeedToKnowNews
Composite Leading Indicators: 1.3%Manufacturing
OCTOBER CANADIAN NEW MOTOR VEHICLE SALES JUMP 3.5%Posted:15/12/2009 13:15 GMT by NeedToKnowNews
Q3 CANADIAN CAPACITY UTILIZATION DECLINES TO 67.5%Posted:14/12/2009 13:15 GMT by NeedToKnowNews
Industrial Capacity Use Q/Q: 67.5%Manufacturing Capacity Use Q/Q: 65.6%Canadian Industries operated at 67.5% of their capacity in Q3 down from a revised 67.7% in Q2 (previously reporter at 67.4%), coming in above the consensus estimate of 67.1%. Manufacturing industries used 65.6% of their capacity in Q3, an increase from a revised 64.7% in Q2 (previously reported 64.2%), beating consensus estimates of an increase to 65.%. This marks the first increase after four consecutive quarterly declines. The increase is attributable to gains in the Transportation and Equipment Industry (up 5.5%) where capacity utilization increased in the last two quarters after 8 consecutive quarterly declines.Y/Y Industrial Capacity declined 11.4%.
Q3 CANADIAN INTERNATIONAL INVESTMENT POSITION DOWN C$84.3BLNPosted:11/12/2009 13:15 GMT by NeedToKnowNews
Canadian Direct Investment Abroad: 601.4Bln Foreign Direct Investment into Canada: 515.8Bln International Investment Position: -84.3BlnCanadian International assets were C$1419.8Bln at the end of Q3, down 3.3% from Q2. International Liabilities edged up to C$1504.1Bln resulting in a net foreign debt position of C$84.3Bln in Q3. Fluctuating exchange rates continued to be a significant factor in the value of international assets and liabilities in Q3. The Canadian dollar accounted for over 90% of the C$49.5Bln increase in net foreign debt position in Q3. The value of Canadian direct investment abroad declined to C$601.4Bln in Q3. This was largely owing to a C$43.3Bln revaluation of foreign currency denominated direct investment assets, as the Canadian dollar grew stronger. Foreign Direct Investment in Canada increased to C$515.8Bln in Q3 from C$504.3Bln in Q2, increasing by C$11.5Bln. The overall increase was attributable to a decline in the net foreign direct investment assets position to C$85.6Bln.
CANADIAN OCTOBER NEW HOUSING PRICE INDEX CLIMBS 0.3%Posted:11/12/2009 13:15 GMT by NeedToKnowNews
Canada Total Change y/y : -2.1%Canada Total Change m/m: 0.3%House Only Change m/m: 0.4%Land Only Change: -0.1%Canadian October New Housing Price Index increased 0.3% from a 0.5% advance in September on a m/m basis disappointing the consensus estimate of a 0.4% rise. The price index now stands at 154.8.Prices between September and October increased the most in Quebec (up 1.1%) and Vancouver (up 0.7%). Greater Sudbury, Thunder Bay and Hamilton also registered jumps of 0.5%. Cities that posted monthly declines were Charlottetown and Edmonton, down 0.7% and 0.3% respectively.On a y/y basis the index retreated 2.1% in October following a 2.7% decline in September. The largest decrease continued to be in western Canada, namely Edmonton (down 10.1%)m Calgary (down 5.6%) and Saskatoon (down 3.3%). The largest y/y increase was recorded in Quebec, rising 7.5%. The Canada wide House only index rose 0.4% and Land only edged down 0.1%.
BoC HOLDS OVERNIGHT RATE @ 0.25%Posted:08/12/2009 13:45 GMT by NeedToKnowNews
Overnight Rate : 0.25%BoC continues to hold its target for the overnight rate @ 0.25%, meeting the consensus estimates. The bank rate is unchanged @ 0.5%, while the deposit rate remains at 0.25%.Global economic developments have been slightly more optimistic despite pertaining fragilities and the outlook for the global economy has improved modestly relative to the Bank's projection in October's MPR, reported BoC. As expected, the Canadian composition of aggregate demand is shifting away from net exports and towards final domestic demand. The balance of these shifts resulted in weaker than forecasted GDP growth in Q3. The projected recovery for the bank remain consistent with October's MPR. Inflation is expected to return to the 2% target in the second half of '11. In order to achieve the inflation target, the overnight rate can be expected to remain @ 0.25% until the end of the Q2 '10. The main upside risk to the outlook for inflation are stronger than projected global and domestic demand, and the main downside risk would be attributable to the strength in the CAD. As a consequence of operating @ the lower bound, the overall risks to its inflation projection are tilted slightly to the downside, stated BoC.The next rate announcement will be on January 19. BoC will also release a full update of the bank's outlook for the economy and inflation projection in its Monetary Policy Report (MPR) on January 21.
CANADIAN ECONOMY GROWS 0.1% IN Q3Posted:30/11/2009 13:16 GMT by NeedToKnowNews
GDP Quarterly Annualized: 0.4%GDP-Real Quarterly Change: 0.1%Quarterly Services: 0.6%Quarterly Personal Expenditure: 0.8%Canadian Q3 real GDP increased 0.1% after retreating a revised 0.8% in Q2 (previously reported as a 0.9% drop), upsetting the consensus estimates of a rise by 0.2%. This marked the first quarterly gain since Q3 '08.At an annualized rate, GDP climbed 0.4% from a 3.4% dip in Q2. Growth in Services producing Industries was up 0.6%, with wholesale trade (+2%) and retail trade (+1.3%) leading the way, reported Statscan. Goods producing industries continued its downward trend started in Q3 '07, falling 1.4%, with bulk of the decline coming from oil and gas extractions as a result of temporary shutdowns. Personal expenditure saw its biggest increase since Q4 '07, rising 0.8% as households spent more on durable goods (+2.4%). Expenditure in the service sector also advanced 0.7%.Business investment in machinery and equipment was up 5.9% in Q3, after 5 quarters of declines. Business investment in non residential structures was down 3.6%, the fourth consecutive quarterly decline.Exports of goods and services climbed 3.6% in Q3, posting its first increase since Q2 '07, led by a 28% rise in exports of automotive products. Energy product exports were 9.2% higher. Imports grew 8% in Q3, on automobile products (+25%) and machinery and equipment (+9.8%)Nominal GDP was up 0.8%, on a 5.2% gain in corporate profits.
SEPTEMBER CANADIAN GDP BY INDUSTRY ADVANCES 0.4%Posted:30/11/2009 13:16 GMT by NeedToKnowNews
Headline GDP M/M: 0.4%Goods Producing Industries M/M: 0.9%Service Producing Industries M/M: 0.3% Canadian GDP By Industry advanced 0.4% in September after retreating 0.1% in August , upsetting the consensus estimates of a 0.2% rise. Goods producing industries posted its first increase since July '08, growing 0.9% on a 5.6% jump in the mining sector (excluding oil and gas extraction) and a 1.1% rise in manufacturing output. Construction also noted a 0.2% gain in September, as residential building construction and engineering and repairs work rose. Service producing industries were up 0.3% as the value added in the retail trade sector grew 1.1% and volume of wholesaling activity climbed 0.4% in September.
SEPTEMBER CANADIAN RETAIL SALES RISE 1%Posted:23/11/2009 13:15 GMT by NeedToKnowNews
Total Retail Sales M-o-M: 1%Retail Sales Ex-Auto M-o-M: 1.1%Canadian September retail Sales jumped 1% to C$34.9bln from a revised 1% rise prior (previously reported as a 0.8% increase), beating the consensus estimate of a 0.4% advance. This marked the seventh increase in 9 months. The gains were spread within 6 of the 8 sectors.The automotive sector climbed 1%, as all components posted higher sales. The largest jump was seen in used and recreational motor vehicles and parts dealers, rising 2%, following two months of flat sales. Sales @ new car dealers rose for the fifth consecutive month, rising 0.6% and gasoline station sales were 1.1% higher than the month prior. Other upward contribution came from Food and beverage store sector (up 1.3%), general merchandise stores (up 1.9%), miscellaneous retailers (up 1.7%), furniture, home furnishings and electronics store (up 1.2%) and pharmacies and personal care stores reported sales 0.5% higher. Sales at building and outdoor home supplies stores were down 0.2% and clothing & accessories stores were 0.1% lower.Retail Sales Ex-Autos increased 1.1% in September following a revised 0.7% increase in August (previously reported as a 0.5% advance).Y-o-Y Retails Sales retreated 3.3% and Ex-Auto declined 2.9%.
CANADIAN SEPTEMBER WHOLESALE SALES UP 0.2%Posted:19/11/2009 13:15 GMT by NeedToKnowNews
Inventories m/m: -0.9%Sales m/m: 0.2%Sales Ex-Autos : 0.6%Canadian Wholesale sales edged up 0.2% in September from a revised 1.5% dip in August (previously reported as a 1.4% decline), coming in below the consensus estimate. Weak sales were seen in the Automotive Products sector, down 1.9% in September. The largest increase was seen in the Machinery and Electronic Equipment sector, advancing 1.2%.Wholesale inventories dropped 0.9% to C$55Bln from a 1.1% slide prior, marking the seventh consecutive monthly decrease. The largest declines were seen in the Machinery and Equipment Sector (down 2.7%), Food Products (down 2.2%), and Apparel (down 4.2%). Ex-Autos, September sales were down 0.6% from a 1.1% retreat prior.Inventory to sales ratio remained declined to 1.34.
SEPTEMBER CANADIAN INTERNATIONAL SECURITY TRANSACTIONS; INFLOWS UP C$13.59bln , OUTFLOWS DOWN C$4.805blnPosted:19/11/2009 13:15 GMT by NeedToKnowNews
Inflows: C$13590mlnOutflows: -C$4805mlnForeign acquisitions of Canadian securities surged by C$13.59bln in September from a revised jump of C$5.067bln prior (previously reported as a C$5.082bln rise), beating the consensus estimate of a rise by C$3bln. The primary reason for the increase was a significant rise in Canadian equity holdings, up C$12.868bln, this marked the largest inflow since April '04. As a result, Canadian equity prices jumped nearly 5% to a 52 week high. Foreign investors also added C$2.577bln of Canadian debt to the portfolios and disposed off C$1.855bln in Canadian money market instruments. Majority of Canadian debt acquired by the non residents included issuance by private corporations, mainly from the resource and financial sector. Divestment in money market instruments largely comprised of reducing federal and govt paper holdings. In contrast to the gain in demand for Canadian securities, Canadian investors decreased holdings of foreign securities by C$4.8bln, beating the consensus estimate of a C$800mln rise. This marked the largest monthly divestment since Dec '08. Canadian investors sold C$1.2 of foreign stock in September, following 3 months of acquisitions. This activity was focused largely in European stocks. Canadians continued to reduce holdings of foreign bonds, removing C$4.1bln from their portfolios. This divestment has continued since May and amounted to the largest reduction since Oct '08. Canadians increased holdings of foreign money market instruments by C$520mln as they invested in US paper but disposed of non US paper instruments.
SEPTEMBER CANADIAN MANUFACTURING SALES RISE 1.4%Posted:16/11/2009 13:15 GMT by NeedToKnowNews
Change In Inventories m/m: -1.9% Inventories ex-petroleum: -1.3%Change in Sales m/m: -1.4% Inventory/Sales Ratio m/m: 1.44September Canadian manufacturing sales jumped 1.4% to C$41.7bln from a revised 1.8% drop prior (previously reported as a 2.1% decline), coming in just below the consensus estimate of a 1.9% retreat. The bulk of this increase was due to increases in Motor Vehicle sales, jumping 16.4% and reaching the highest level since September 2008. Other upward contributors include Motor Vehicle Parts sales (up 13.7%) and Primary Metal Manufacturer sales (up 6.7%). The Aerospace products and parts industry production fell 28.6% in September following a 34.2% drop in August. Inventory levels retreated 1.9% in September to C$59.9bln, following a revised 0.5% drop (previously reported as a 0.7% decline), marking the eighth consecutive monthly decrease. The major contributors for the decline were Petroleum and Coal Products (down 10.0%) and Aerospace Products and Parts (down 6.4%). Excluding petroleum, inventories declined 1.3%The inventory-to-sales ratio edged down to 1.44 in September.
SEPTEMBER CANADIAN NEW MOTOR VEHICLE SALES UP 1.2%Posted:13/11/2009 13:15 GMT by NeedToKnowNews
CANADIAN SEPTEMBER TRADE DEFICIT NARROWS TO C$927mlnPosted:13/11/2009 13:15 GMT by NeedToKnowNews
Merchandise Trade Balance M/M: -0.927blnExports M/M: 30.254blnImports M/M: 31.181bln September Canadian trade balance remained in the negative, narrowing the deficit to C$0.927bln from that of C$2bln prior, beating the consensus estimates of shrinking to C$1.8bln.Exports advanced 3.5% in September, to C$30.3bln on a 4.5% increase in volumes. Exports have increased in 3 of the past 4 months after reaching a low point in May '09, reported Statscan. The upward contribution came from automotive products (up 15.8%), industrial goods and materials (up 6.3%) and machinery and equipment (up 4.5%). Exports of energy products held back the increase as they shrunk 2.5%.Imports decreased 0.1%, to C$31.181bln on a 0.8% retreat in volumes. The main downward contribution came from imports of automotive products (down 4.7%), machinery and equipment (down 1.7%), energy products (down 4.5%) and agricultural and fishing products (down 4.7%). Increase in imports of industrial goods and materials (up 8.5%), cushioned the losses. Exports and imports to the US grew 0.5% & 1.7% respectively, reducing Canada's surplus with the US to C$2.1bln in September from C$2.3bln in August. Exports to countries other than US increased 12.4% accounting for 88% of the overall increase in exports. Imports with non US countries declined 3.2%. This in turn narrowed the trade deficit with non US countries to C$3bln from C$4.3bln in August.
SEPTEMBER CANADIAN NEW HOUSING PRICE INDEX JUMPS 0.5%Posted:12/11/2009 13:15 GMT by NeedToKnowNews
Canada Total Change y/y : -2.7%Canada Total Change m/m: 0.5%House Only Change m/m: 0.7%Land Only Change: 0.1%Canadian September New Housing Price Index increased 0.5% from a 0.1% advance in August on a m/m basis, marking the largest m/m increase since January 2008 and beating the consensus estimate of a 0.2% rise. The price index now stands at 154.4. Prices showed the most significant increases in Vancouver (up 1.4%), Ottawa-Gatineau (up 1.0%), Calgary (up 0.6%), Toronto and Oshawa (up 0.5%) and Saskatoon (up 0.5%). The New Housing Price Index declined 2.7% y/y in September primarily due to declines in Western Canada.The Canada wide House only index rose 0.7% and Land only edged up 0.1%.
SEPTEMBER CANADIAN BUILDING PERMITS RISE 1.6%Posted:05/11/2009 13:15 GMT by NeedToKnowNews
Combined M-o-M: 1.6%Residential M-o-M: 9.4%Non-Residential M-o-M: -9.1% September Canadian Building Permits increased 1.6% from a revised 7.4% surge prior (previously reported as a 7.2% rise), beating consensus estimates of a 2% drop. This marked the second consecutive monthly increase and it stemmed from higher intentions in the residential sector. Residential Permits jumped 9.4% to C$3.2bln after posting a 11.2% gain prior. This was the first time residential permits reached this level since September '08, and was a result of gains in the value of multi-family dwelling especially in BC and Ontario, reported Statscan. Municipalities issued C$1.1bln worth of building permits for multi-family dwellings, advancing 32.1% from August. Value of permits for single-family dwellings rose 0.2% to C$2.1bln. Total dwellings approved by the municipalities grew 13.3% to 15,520 in September. Single family dwellings approved rose 1.2% to 7415 units and multi-family dwellings were up 27.8% to 7835 units.Non-residential building intentions decreased 9.1% to C$1.9bln. In the commercial component, intentions fell 11.0% to C$950mln. Building permits for the institutional component declined 18.5% to C$597mln. In the industrial component, the value of building permits increased 20% to C$363mln.
AUGUST CANADIAN GDP BY INDUSTRY FALLS 0.1%Posted:30/10/2009 13:15 GMT by NeedToKnowNews
Headline GDP M/M: -0.1%Goods Producing Industries M/M: -0.7%Service Producing Industries M/M: 0.1% Canadian GDP By Industry declined 0.1% in August after remaining flat in July , upsetting the consensus estimates of a 0.3% rise. Oil and gas extraction (down 2.3%) along with manufacturing (0.7%) were the main sources of the retreat, reported Statscan. The decrease was mitigated by increases in the public sector, utilities, retail trade and construction.Manufacturing fell 0.7% in August as 8 of the 21 major groups posted a decrease. A 7.3% plunge in primary metal products accounted for majority of the slide.Wholesale trade was also down 0.5% reflecting weakness in foreign and domestic demand and the mining sector retreated 1.4%. Public sector gained 0.4% as a result of municipal employees in Toronto ending their strike. Retail trade and Construction were up 0.3% and 0.2% respectively. This was the first increase in the Construction sector since October '08. Utilities were up 1.8%.Goods producing industries fell 0.7% in August following a revised 0.5% drop in July.Service Producing Industries jumped 0.1% after rising a revised 0.2% prior.
SEPTEMBER CANADIAN IPPI DOWN 0.5%. RMPI POSTS 1.1% DROPPosted:29/10/2009 13:15 GMT by NeedToKnowNews
IPPI m-o-m : -0.5%IPPI Ex-Petroleum and Coal products: -0.3%RMPI m-o-m: -1.1%RMPI Ex-mineral fuels: -0.6%September Canadian IPPI dropped 0.5% after advancing 0.5% in August, coming in over the consensus estimate of a 0.3% decrease. Petroleum and Coal prices declined 2.6% in September after jumping 6.2% previously. Excluding petroleum, IPPI declined 0.3% in September following a 0.1% dip prior, coming in slightly over the consensus estimate of a 0.2% drop. RMPI retreated 1.1% in September following a revised 3.8% fall in August (previously reported as -3.7%), dropping lower than the consensus estimate of a 0.8% fall. Movements in RMPI are largely owing to fluctuations in prices for mineral fuels and crude oil (down 1.6%). A 5.1% drop in prices for vegetable products also contributed to the drop with declines in prices for oil seeds (down 14.5%) and Grains (down 3.2%).Excluding mineral fuels, RMPI posted a 0.6% loss following a revised 0.9% advance (previously reported a 0.8% gain).Year-over-year, RMPI dropped 21.4%, largely attributable to a sharp 32.0% price reduction for mineral fuels and a 15.9% drop in prices for vegetable products.
CANADIAN AUGUST WHOLESALE SALES FALL 1.4%Posted:20/10/2009 13:15 GMT by NeedToKnowNews
Inventories m/m: -1.1%Sales m/m: -1.4%Sales Ex-Autos : -1.1%Canadian Wholesale sales fell 1.1% to C$40.963bln after rising a revised 2.6% in July (previously reported as a 2.8% rise), beating the consensus estimate. The decrease in sales was primarily due to weaker sales in the automotive products (down 3.3%), machinery and electronic equipment (down 2.4%) and building materials sectors (down 1.8%). Sales were down in all 7 sectors and the losses from the three sectors accounted for approximately 90% of the decline.Wholesale inventories dropped 1.1% to C$55.505bln from a 0.5% slide prior, marking the sixth consecutive monthly fall. This was led by a 4.2% plunge in metal products. In dollar terms, largest declines came from machinery and equipment, down 1%. Food products and computer and other electronic equipment were the main upward contributors.Ex-Autos, August sales were down 1.1%% from a 0.9% rise prior.Inventory to sales ratio remained unchanged @ 1.35.
SEPTEMBER CANADIAN CPI REMAINS FLATPosted:16/10/2009 11:45 GMT by NeedToKnowNews
Headline CPI M-o-M: 0%Ex Food and Energy M-o-M: 0.3%Core CPI M-o-M: 0.3%Headline CPI Y-o-Y: -0.9% Core CPI Y-o-Y: 1.5%Consumer Prices remained flat m/m in September following no changes in August and disappointing the consensus estimate of a 0.2% increase.On a y/y basis consumer prices retreated 0.9% after falling 0.8% the month prior, meeting the consensus estimate. The bulk of this decline was largely owing to Energy products showing a 18.7% plunge y/y.Excluding Food and Energy, m/m CPI increased 0.3% after remaining flat in August.Upward contributors to the CPI were Education (up 4.2%), Women's Clothing (up 6.5%), Telephone Services (up 1.6%) and Health Care (down 1.1%). Significant contributors to the decline of CPI were Purchase of Passenger Vehicles (down 2.2%), Fresh Vegetables (down 10.8%), Gasoline (down 1.5%) and Traveler Accommodation (down 4.2%). Core CPI m/m increased 0.3% in September after a 0.1% advance previously. Core CPI y/y rose 1.5% after jumping 1.6% in August.
AUGUST CANADIAN MANUFACTURING SALES FALL 2.1%Posted:15/10/2009 13:15 GMT by NeedToKnowNews
Change In Inventories m/m: -0.7% Inventories ex-petroleum: --1.41%Change in Sales m/m: -2.1% Inventory/Sales Ratio m/m: 1.49August Canadian manufacturing sales declined 2.1% to C$40.9bln from a revised 5.2% increase prior (previously reported as a 5.5% rise), beating the consensus estimate of a -3.6% drop, Statistics Canada reports. Sales decreased in 13 of 21 manufacturing industries in August. The main contributors to this fall were aerospace product and parts and motor vehicle industries.Production in the aerospace product and parts industry fell 35.6% and sales in the motor vehicle industry dipped 0.6%. If the decline in aerospace is excluded, manufacturing sales fell by 0.6%.Petroleum and coal product sales increased by 7.2%, largely due to higher prices.Inventory levels retreated 0.7% in August, falling to C$61.0bln, following a revised 2.1% drop (previously reported as a 2% decline). The major contributor for the retreat was the 6.5% fall in aerospace products and parts. Fabricated metal products (down 2.3%), machinery (down 2%) and food (down 1.9%) also contributed to the slide. The inventory-to-sales ratio edged up to 1.49 in August. The larger drop in sales, compared to inventories, was the cause of the slight rise in the inventory-to-sales ratio. The backlog of unfilled orders fell 4.2% to C$54.3bln on a decline in the aerospace industry, if the fall in aerospace products and parts were to be excluded, unfilled orders would rise by 0.3% in the month to August. New orders increased by 0.2% to C$38.5bln.
AUGUST CANADIAN NEW MOTOR VEHICLE SALES RETREAT 0.3%Posted:14/10/2009 13:15 GMT by NeedToKnowNews
New Motor Vehicle Sales : 126.401K% Change Sales m/m : -0.3%New motor vehicle sales dropped 0.3% in August after jumping 5.3% in July, coming under the consensus estimate of a 0.1% advance. Units sold were at 126.401K in August from a revised 126.785K prior (previously reported at 126.665K). The decline was largely owing to lower sales of new passenger cars, down 1.0% to 62.4K in August. Sales of North American-built passenger cars plunged 9.3%, offsetting the increase in July. Overseas-built passenger cars sold increased 11.0% in August, offsetting the declines of the prior three months. On a Y/Y basis, sales in august were down 6.6%. Preliminary data indicates September sales will remain unchanged, according to Statistics Canada.
AUGUST CANADIAN BUILDING PERMITS JUMP 7.2%Posted:06/10/2009 13:15 GMT by NeedToKnowNews
Combined M-o-M: 7.2%Residential M-o-M: 11.2%Non-Residential M-o-M: 2.2% August Canadian Building Permits increased 7.2% from a revised 10.0% plunge prior (previously reported as a 11.4% decline), beating consensus estimates of a 1.1% rise. The end of the municipal strike in Toronto in July contributed to the increase. Residential Permits jumped 11.2% in August after posting a 4.1% retreat prior. Municipalities issued C$2.1bln worth of building permits for single family dwellings, which advanced 15.1% in August, marking the sixth consecutive monthly increase. Value of permits for multi-family dwellings rose 2.6% to C$841.7mln.Non-residential building intentions increased 2.2% to C$2.1Bln in August. In the commercial component, building permits rose 3.0% to C$1.1Bln. Building permits for the institutional component declined 1.1% to C$737Mln. In the industrial component, the value of building permits increased 8.2% to C$292Mln.
JULY CANADIAN RETAIL SALES RETREAT 0.6% ON GASOLINE PRICESPosted:22/09/2009 13:15 GMT by NeedToKnowNews
Total Retail Sales M-o-M: -0.6%Retail Sales Ex-Auto M-o-M: -0.8%Canadian Total Retail Sales fell 0.6% in July from a 1% jump prior, beating the consensus estimate of a 0.6% advance. This decrease was reflected by lower gasoline prices @ stations (down 3.4%). In volume terms retail sales edged down 0.1%.Sales were down in 5 of the 8 sectors, with the largest decline coming from the automotive sector, falling 1% on lower prices @ gasoline stations. This marked the third time in four months where gasoline prices have been the largest contributor to the change in overall retail sales, reported Statscan.Food and beverages sector posted a drop of 1.5% in sales, on 1.6% lower sales at supermarkets, which account for about three quarters of the sector's sales. Furniture, home furnishings and electronic stores also noted a decrease of 0.6% in sales, entirely due to a 2.5% fall in sales @ home electronics and appliance stores. Main upward contribution came from a 1.1% rise in sales @ pharmacies and personal care stores along with a 1% increase in the building and outdoor home supplies stores. Retail Sales Ex-Autos retreated 0.8% following a 1% increase in June beating the consensus estimate of a 0.3% rise. Y-o-Y Retails Sales decreased 4.9% and Ex-Auto declined 4.7%.
JULY CANADIAN INTERNATIONAL SECURITY TRANSACTIONS Ã¢ÂÂ INFLOWS UP C$351MLN, OUTFLOWS DOWN C$526MLNPosted:21/09/2009 13:32 GMT by NeedToKnowNews
Inflows: C$351mlnOutflows: -C$526mlnForeign acquisitions of Canadian securities increased by C$351mln in July, following an investment of C$10.5bln prior, beating the consensus estimate of a rise by C$13bln. The first 6 months of '09 saw investment rise by C$61.9bln. Foreigners reduced holding of all instruments with the biggest divestment taking place in the Canadian money market paper. Non residents reduced holding of Canadian money market paper by C$3.8bln and added C$3.6bln of bonds. Canadian stocks were also bought at a much slower pace, as investors added C$612mln after acquiring C$2.3bln worth in June. Foreign acquisitions of bank and financial shares continued to be robust but were offset by divestment in energy and gold stocks, reported Statscan. Canadian investors decreased holding of foreign securities by C$526mln, following a revised investment of C$1.25bln (previously reported as C$1.441bln), beating the consensus estimate of a rise to C$3bln. Canadians returned to buy foreign shares, acquiring C$824mln worth in July after increasing their holdings by C$3.8bln in June. Majority of the investment was focused on non-US foreign equities. Domestic investors sold C$625mln of foreign bonds in July. Foreign money market paper divestment was down C$725mln.
CANADIAN JULY WHOLESALE SALES RISE 2.8% ON AUTOMOTIVE PRODUCTSPosted:18/09/2009 13:32 GMT by NeedToKnowNews
Inventories m/m: -0.5%Sales m/m: 2.8%Sales Ex-Autos : 0.9%Canadian Wholesale sales surged 2.8% to C$41.7bln in July from a revised 0.8% gain earlier (previously reported as a 0.6% increase), beating the consensus estimate, marking the second consecutive monthly increase. The rise in sales was primarily due to higher Canadian exports and imports of automotive products (sales were up 14.2% - a sixth straight monthly advance) and building materials sector (up 3.4%). Other products sector also posted an increase of 3.1%; its first gain in 6 months. This sector includes primarily agricultural fertilizers and supplies, chemicals, recycled materials and paper products. In volume terms wholesale sales were up 2.6%; the fourth consecutive monthly climb.Wholesale inventories dropped 0.5% to C$56.3bln in July following a revised 0.8% slide in June, marking the fifth consecutive monthly slide. This was led by a 6.3% plunge in Farm products. In dollar terms, largest declines came from building supplies and metal products, both down 2.3% and 4% respectively.Ex-Autos, July sales were up 0.9% from a 0.1% rise prior.Inventory to sales ratio decreased to 1.35 from 1.40.
AUGUST CANADIAN LEADING INDICATORS RISE 1.1%, HINTS TOWARDS RECOVERY FROM DOWNTURNPosted:17/09/2009 13:31 GMT by NeedToKnowNews
Composite Leading Indicators: 1.1%Manufacturing
CANADIAN CPI REMAINS FLAT IN AUGUSTPosted:17/09/2009 12:01 GMT by NeedToKnowNews
Headline CPI M-o-M: 0%Headline CPI Y-o-Y: 0%Ex Food and Energy M-o-M: 0.1%Core CPI M-o-M: -0.8%Core CPI Y-o-Y: 1.6%Consumer Prices remained flat m/m in August, reversing the 0.3% slide from July, disappointing the consensus estimate of a 0.1% increase.On a y/y basis consumer prices retreated 0.8% after falling 0.9% the month prior. The decrease was a result of a 12 month decline of 19.1% in prices for energy products, particularly gasoline (down 21.2% y/y). Excluding energy, CPI rose 1.4% in the 12 months to July.Upward pressure to the monthly change came from Gasoline (up 2.6%), Electricity (up 1.9%), Natural gas (up 3%) and Men's clothing (up 1.7%).Downward pressure to the monthly change were a result of a decline in Fresh vegetables (down 8.8%), Fresh fruit (down 4.7%) Natural gas (down 8.9%), Purchase of passenger vehicles (down 0.6%) and Mortgage interest cost (down 0.6%).On a y/y basis the main upward contribution came from food purchased @ restaurants (up 3.1%) and the primary downward contributor was Gasoline (down 21.2%)On a y/y basis, BoC
JULY CANADIAN MANUFACTURING SALES SURGE 5.5%Posted:16/09/2009 13:32 GMT by NeedToKnowNews
Change In Inventories m/m: -2% Inventories ex-petroleum: -1.24%Change in Sales m/m: 5.5% Inventory/Sales Ratio m/m: 1.48July Canadian manufacturing sales surged 5.5% to C$41.4bln from a revised 2.2% increase prior (previously reported as a 1.9% rise) , beating the consensus estimate of a 2% rise. Sales rose in 15 of 21 manufacturing industries. Main upward contributors were motor vehicle and the primary metal industries. Sales in the motor vehicle industry were up 48.2%, motor vehicle parts industry jumped 30% and primary metals were 11.2% higher. Largest declines came from petroleum and coal products, down 3.6% and the food industry posted sales that were 1.3% lower. Inventory levels retreated 2% in July, falling to C$61.3bln, following a revised 0.3% drop (previously reported as a 0.1% decline). Biggest reason for the pullback was a 12.1% fall in petroleum and coal product inventories. Wood products (down 5.1%), primary metals (down 4.8%) and fabricated metal products (down 3.4%) also contributed to the slide. The inventory-to-sales ratio dropped to 1.48 in July. Backlog of unfilled orders fell 4.3% to C$57.1bln on a decline in the aerospace industry. New orders also decreased 3.7% to C$38.8bln.
JULY CANADIAN NEW MOTOR VEHICLE SALES SURGE 5.3%Posted:15/09/2009 13:31 GMT by NeedToKnowNews
New Motor Vehicle Sales : 126.665K% Change Sales m/m : 5.3%New motor vehicle sales climbed 5.3% in July after decreasing a revised 0.5% in June (previously reported as a 0.6% decline), beating the consensus estimate of a 4.8% advance. Units sold were at 126.665K in July from a revised 120.300K prior (previously reported at 119.961K). The bulk of the increase was due to especially strong sales of both passenger cars and trucks in Ontario. Sales rose in all provinces but over two-thirds of the national increase was due to Ontario, with sales increasing by 10%, compared to a slight decrease in June. Sales of new passenger cars outweighed those of new trucks for the first time in three months. New passenger cars sales rose by 6.3% and sales of new trucks climbed 4.3%. Sales of North American built passenger cars were responsible for this turn-around, showing a 15.1% advance, the largest increase for this category since January 2008. Overseas-built passenger car sales fell by 4.4%, a third consecutive monthly decline. Preliminary data indicates August sales will remain relatively unchanged, according to Statistics Canada.
CANADIAN Q2 LABOUR PRODUCTIVITY REMAINS UNCHANGEDPosted:15/09/2009 13:31 GMT by NeedToKnowNews
Labour Productivity Q/Q: 0.0%Hourly Compensation Quarterly: 0.3%Unit Labour Costs Quarterly: 0.3%Canadian Labour Productivity remained flat in Q2 as it did in Q1 after revisions, (previously reported as a 0.3% rise), upsetting the consensus estimate of a 0.8% increase. Hourly compensation increased 0.3% from a revised 0.8% jump prior (previously reported as 1.2% gain). Unit Labour costs rose 0.3% from a 0.8% increase prior. GDP of Canadian business shrunk 1.3% in Q2 following a 2.1% drop in Q1. A rebound in domestic demand led to the increase in productivity and output in service producing industries, which offset the decline in the goods producing industries, reported Statscan. Service sector industries noted a 0.6% increase in productivity on an upswing in wholesale and retail trade along with the financial industries. Goods sector industries posted a 0.5% decline. Hours worked decelerated to a 1.3% pace in Q2 compared to retreat of 2.1% in Q2.Unit labour costs in US$ advanced 7% in Q2 marking the first quarterly increase since Q2 '08. This was mainly because of a 6.7% surge in the value of the CAD against the USD.
Q2 CANADIAN CAPACITY UTILIZATION DROPS TO 67.4%, LOWEST ON RECORDPosted:14/09/2009 13:31 GMT by NeedToKnowNews
Industrial Capacity Use Q/Q: 67.4%Manufacturing Capacity Use Q/Q: 64.2%Canadian Industries operated at 67.4% of their capacity in Q2 down from a revised 70.2% in Q1 (previously reported at 69.3%), below the consensus estimates for a retreat to 66.4%. This was the lowest capacity utilization rate since the start of the data series in 1987 and the eighth consecutive quarterly decline. Under the non manufacturing sector, capacity use was down in all sectors, led by mining and oil and gas extraction sector (down 3.3% q/q to 68.2%). Construction was down 1.9% q/q to 71.1% and electric power generation, transmission and distribution was down 1.8% q/q to 78.8%.Forestry and logging also posted a decrease of 7.8% q/q to 64.2%.Manufacturing industries used 64.2% of their capacity in Q1, a decline from a revised 67.1% in Q1 (previously reported 65.9%), coming in below estimates of a drop to 61.3%. This marked the fourth consecutive quarterly drop. Twenty of the 21 major industries in the manufacturing group used less of their production capacity in Q2. The decline in the manufacturing industry was led by primary metal manufacturers, falling to 61.9%, marking the lowest on record. Transportation equipment industry also retreated 0.9% q/q to 46%. Textile product mills also dropped 11.1% q/q to 53.4%. Food sector remained flat @ 81.5%.Industrial Capacity Q/Q slid 2.8%.
JULY CANADIAN NEW HOUSING PRICE INDEX RISES 0.3%Posted:11/09/2009 13:31 GMT by NeedToKnowNews
Canada Total Change y/y : -3.2%Canada Total Change m/m: 0.3%House Only Change m/m: 0.4%Land Only Change: 0.0%Canadian July new housing price index increased 0.3% from a 0.2% retreat in June on a m/m basis, coming in below the consensus estimate of a 0.1% decline. This marked the first increase since September '08. The price index now stands at 153.6Prices advanced the most in Vancouver (up 1.2%) followed by Hamilton (up 1.1%) and Windsor and Calgary (up 0.5% each). Victoria accounted for the largest monthly decrease in new housing prices, posting a drop of 3.5%.The New Housing Price Index declined 3.2% y/y in July, primarily due to declines in Western Canada.The Canada wide House only index rose 0.4% and Land only remained flat on a m/m basis.
BoC HOLDS OVERNIGHT RATE @ 0.25%Posted:10/09/2009 14:01 GMT by NeedToKnowNews
Overnight Rate : 0.25%BoC continues to hold its target for the overnight rate @ 0.25%, meeting the consensus estimates. The bank rate is unchanged @ 0.5%, while the deposit rate remains at 0.25%.Recent economic indicators are pointing to the start of a recovery following a synchronous recession. Economic and financial developments have been in line with the bank's expectations as the economy shows signs of stabilizing. Canadian economic growth, output gap and inflation in the first half of '09 have evolved largely as expected in July's MPR, stated the bank. Domestic demand is growing as a result of stimulative monetary and fiscal policies, improved financial conditions, firmer commodity prices and a rebound in business and consumer confidence. However the higher Canadian dollar remains a risk to both,growth and a timely return to the inflation target, reported the bank. GDP growth in the second half of '09 could be stronger than the projected 2.15% in July's MPR after latest information on inventory adjustments and automotive production. CPI inflation is still expected to return to the 2% target in Q2 of '11.The bank reiterated the target for the overnight rate can be expected to remain at this level till Q2 of '10. The next rate announcement will be on October 20. BoC will also release a full update of the bank's outlook for the economy and inflation projection in its Monetary Policy Report (MPR) on October 22.
JULY CANADIAN BUILDING PERMITS PLUNGE 11.4%Posted:08/09/2009 13:31 GMT by NeedToKnowNews
Combined M-o-M: -11.4%Residential M-o-M: -4.1%Non-Residential M-o-M: -19.3% July Canadian Building Permits plunged 11.4% 1.0% from a 1% jump prior, upsetting consensus estimates of a 1.2% rise. The strike by civic workers in Toronto was the contributing factor to this decline. This shut down the municipal offices for a major part of the month. Residential Permits retreated 4.1% in July after posting a 0.5% gain prior. Municipalities issued C$1.8bln in single family permits, which was up 5.2%, marking the fifth consecutive monthly increase. Value of permits for multi family dwellings slid 19.3% to C$824.3mln. In July municipalities approved the construction of 12,364 new dwellings, down 3.8% from June. Single family dwelling approval was up 10.8% to 6410 units, marking the highest level since November '08.Non-residential building intentions decreased 19.3% after increasing 1.5% in July. All the three components posted a decrease with industrial permits leading the fall, down 20.5%, institutional permits, down 19.7% and commercial permits down 18.6%.
AUGUST CANADIAN LABOUR FORCE SURVEY GAINS 27K JOBS, UNEMPLOYMENT RATE @ 8.7%Posted:04/09/2009 12:01 GMT by NeedToKnowNews
Net Change in employment m-o-m: 27.1kUnemployment rate m-o-m: 8.7%Canadian employment increased by 27k in August from a 45k retreat prior, beating the consensus estimates of a 14k drop. This gain was led by part time work (up 30.6k) and among private sector employees (up 49.2k). The unemployment rate edged up to 8.7% in August as more people participated in the labour market, reported Statscan. Since last October, total employment has decreased 2.3%, and full time employment has retreated 3.5%.Full-time employment declined by 3.5k jobs, and part-time employment increased by 30.6k. Most of the gains were concentrated among women aged 25 to 54, rising by 24k.Goods producing sector employment was down 6.8k with Manufacturing leading the fall, down 17.3k.Service producing sector employment was up 33.9k on a 21.2k rise in the trade sector.Unemployment rate for students reached 16.4% in August, marking the highest one since '77. This was up 5% from the same month last year. Avg hourly wages were up 3.3% from August
CANADIAN JUNE GDP BY INDUSTRY RISES FIRST TIME AFTER 10 MONTHS, UP 0.1%Posted:02/09/2009 18:51 GMT by NeedToKnowNews
Headline GDP M/M: 0.1%Goods Producing Industries M/M: -0.6%Service Producing Industries M/M: 0.4%Canadian GDP By Industry rose 0.1% in June after falling a revised 0.5% in April (previously reported as a 0.6% decline) , upsetting the consensus estimates of a 0.2% rise. This was the first monthly increase since July '08. Gains in the Energy sector (up 0.9%) and wholesale trade (up 1.3%) were the contributing factors to the growth. Manufacturing and Construction sectors were down 0.7% and 0.5% respectively.Retail trade advanced 0.5% in June.Goods producing industries fell 0.6% in June following a 1.6% drop in May.Service Producing Industries jumped 0.4% after remaining flat in May. This marked the largest increase since the beginning of the year.
Q2 CANADIAN GDP DROPS 0.9%Posted:02/09/2009 18:25 GMT by NeedToKnowNews
GDP Quarterly Annualized: -3.4%GDP-Real Quarterly Change: -0.9%Quarterly Services: 0.3%Quarterly Personal Expenditure: 0.4%Q2 Canadian real GDP declined 0.9% after falling a revised 1.6% in Q1(previously reported as a 1.4% decrease), coming in below the consensus estimate of a 0.7% retreat. At an annualized rate, GDP declined 3.4% from a 5.4% dip in Q1. GDP Services and Goods Producing Industries increased 0.3% in Q2 from a 0.5% decline prior. Imports fell 2.2% in Q2 marking the fourth consecutive decline and Exports dipped 5.2% from a 8.7% plunge in Q1. Lower business investment spending (down 4.3%), particularly in plant and equipment continued to push exports and imports down. Exports of goods and services fell 3.3% in Q2 after plunging 7.1% previously. Personal expenditures advanced 0.4% from a 0.4% decrease prior. Personal Disposable Income increased 0.6% in Q2 after a 0.8% decline prior.
CANADIAN JULY IPPI DOWN 0.5%, RMPI SLIDES 3.8%Posted:28/08/2009 13:44 GMT by NeedToKnowNews
IPPI m-o-m : -0.5% IPPI Ex-Petroleum and Coal products: 0% RMPI m-o-m: -3.8% RMPI Ex-mineral fuels: -0.8% July Canadian IPPI retreated 0.5% after rising a revised 0.5% in May (previously reported as a 0.7% jump), falling below the consensus estimate of a 0.3% decline. The decrease in the IPPI is largely owing to a 5.2% reduction in prices for petroleum and coal products. Since August '08 IPPI has fallen 7%. Excluding petroleum, IPPI remained flat in July following a revised 0.5% dip prior (previously reported a 0.3% slide), coming above the consensus estimate of a 0.6% drop. Y/Y IPPI declined 6.9% in July following 4 .5% slide observed in May. RMPI plunged 3.8% in July, following a after a 6.2% rise in June, beating the consensus estimate of a 0.9% drop. Prices for mineral fuels decreased 6.8%, mainly owing to a 7.2% slide in the price of crude oil. Excluding mineral fuels, RMPI posted a 0.8% loss following a 0.7% increase prior. Y/Y RMPI dropped 34.4%, marking the largest year over year decline since 1977. The bulk of the decrease owing to a strong 49% price reduction for mineral fuels and to a lesser extent, decreases in prices for non-ferrous metals (down 15%) and vegetable products (down 19.8%).
JUNE CANADIAN RETAIL SALES RISE 1%Posted:24/08/2009 13:44 GMT by NeedToKnowNews
Total Retail Sales M-o-M: 1.0% Retail Sales Ex-Auto M-o-M: 1.0% Canadian Total Retail Sales rose 1% in June from a revised 1.1% jump prior (previously reported as a 1.2% increase), beating the consensus estimate of a 0.2% advance. This increase was led by rising gasoline prices (up 4.7%). Sales were up in six of the eight sectors, with the largest contribution coming from the automotive sector, gaining 2.1% from sales. Food and beverages saw an increase of 1.3% in sales. The downward contributors were sales at general merchandise stores (down 0.6%) and building an outdoor home supplies stores (down 0.6%). Retail Sales Ex-Autos increased 1% from a 0.6% fall in May beating the consensus estimate of a 0.6% rise. Y-o-Y Retails Sales decreased 4.4% and Ex-Auto declined 3.6%.
JUNE CANADIAN WHOLESALE SALES INCREASE 0.6%Posted:20/08/2009 13:44 GMT by NeedToKnowNews
Inventories m/m: -1.1% Sales m/m: 0.6% Sales Ex-Autos : 0.1% Canadian Wholesale sales jumped 0.6% to C$40.4bln in June from a revised 0.2% slide earlier (previously reported as a 0.3% fall), meeting the consensus estimate and marked the first increase in 9 months. The rise in sales was primarily due to increases in the automotive products (up 3.3%) and food,beverages and tobacco products (up 1.8%) sectors. The automotive sector posted its fifth straight increase since the plunge in January, reported Statscan. Wholesale inventories dropped 1.1% to C$56.5bln in June, marking the fourth consecutive monthly slide. This was led by a 12.9% plunge in Farm products and a 5.7% fall in the motor vehicles sector. In terms of volume, wholesale sales rose 1%, the third consecutive monthly increase. Ex-Autos, June sales edged up 0.1% from a 0.3% retreat prior. Inventory to sales ratio decreased to 1.40 from 1.42.
JULY CANADIAN LEADING INDICATORS JUMP 0.4%Posted:19/08/2009 13:44 GMT by NeedToKnowNews
Composite Leading Indicators: 0.4% Manufacturing â New Orders: -5.9% Manufacturing â Shipments/Inventories of finished goods ratio: 1.54 July Canadian Composite Leading Indicators jumped 0.4% after dropping a 0.1% in June, beating the consensus estimate of a 0.3% decline. This marked the first increase since August 2008. The Stock Market and Housing Index posted the largest gains with the stock market advancing 5.7% ahead of housing (up 4.5%). The leading indicator of the United States continued to rise, increasing 0.4% and marking the first back-to-back gain in approximately two years. New orders declined 5.9% after sliding 7.6% in June. Manufacturing shipments/inventories ratio fell to 1.54 in July, meeting consensus estimates.