Economic Reports

Daily Update (Source: RBC Financial Group)
Retail sales up again in March
May 19, 2017
The 1.2% jump in March retail sale volumes marked a third consecutive monthly increase — and eighth out of the last nine— to polish off a strong first quarter spending gain. Sale volumes in Q1/17 were up 8% from Q4 (at an annualized rate), somewhat surprisingly building on a 7.5% increase in Q4. The combined 2- quarter run is the strongest on record since the second quarter of 2004. The fundamental economic backdrop for households has generally continued to improve with strong growth in employment offsetting disappointingly modest wage growth to-date in 2017. Overall growth in the economy has also strengthened (we expect a 3.8% Q1 GDP rise) with ....     More >>
Weekly Commentary
The Crude Truth About the Oil Market - May 18, 2017
By Peter G. Hall, Vice-President and Chief Economist, Export Development Canada
Global oil prices are on the move again. Market watchers would be quick to say that that's nothing new, given swings that can occur on a daily or weekly basis. But the recent $8 drop in West Texas Intermediate crude revived fears that a steeper drop could be in the works. Producers don't seem satisfied that the recent range will hold; no doubt they are jaded by the wide gyrations of the past three years - or longer. At the same time, a broader audience is looking at the effect of crude oil's latest movements on our dollar, and wondering where things are headed. Are prices settling into a range, or can we expect further shifting?
If the past two decades have taught this industry something, it's that price forecasts are very hard to get right. Careers have been established – and obliterated – by crude price calls ...     More >>
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