The unofficial authority on recession calls in Canada says it's too soon to use that word to describe the sluggish economy. Debate has raged on Parliament Hill over whether the country is in a recession since Statistics Canada reported last week that the economy contracted for two quarters in a row. The C.D. Howe Institute's Business Cycle Council is traditionally...
A surprisingly strong May jobs report has reinforced many economists' views that the Canadian economy is not in a recession. Statistics Canada reported Friday that the economy added 88,000 jobs in May, topping economists' expectations for a gain of 10,000 positions. The agency said the unemployment rate fell to 6.6 per cent last month, down from 6.9 per cent in...
The labour market rebounded with a surprise gain of 88,000 jobs in May, partially offsetting a bigger drop in employment since the start of the year, Statistics Canada said Friday. The agency said the unemployment rate fell to 6.6 per cent in May, down from 6.9 per cent in April. StatCan said May’s gains were the first significant increase in...
Prime Minister Mark Carney has said that lower immigration under his government helps to explain why Canada's economy has declined for the last two quarters, pushing it into recession territory. While Carney has not said the word "recession" himself when asked about the decline -- and while economists citing broader economic indicators argue Canada is not in a true recession...
After Canada’s economy slipped into a technical recession last week, a new outlook by the Organisation for Economic Co-operation and Development, or OECD, said on Wednesday said that GDP growth is set to rebound later in the year and continue growing into 2027. “GDP growth is expected to strengthen over 2026 and 2027,” the OECD said in a note about...
While Prime Minister Mark Carney acknowledged weaknesses in the Canadian economy, he also defended the federal government’s economic agenda on Tuesday and did not use the word “recession.” “This government’s been in the process of laying the foundations for a stronger, more resilient, more independent Canadian economy,” Carney said Tuesday when asked directly by reporters in Ottawa about whether Canada...
Canadians continue to skip along in neutral territory. Of note, Ontario remains the noticeably most negative in terms of consumer sentiment compared to all other parts of the country.
Statistics Canada says economic growth stalled in the first quarter, leading to a second consecutive decline in real gross domestic product. That meets some definitions for a technical recession, though not all economists weighing in on StatCan's Friday report were convinced the label was necessary. Real gross domestic product by expenditure was essentially unchanged on a quarter-over-quarter basis, StatCan said...
Canada’s economic mood is holding broadly steady, with confidence at 51.73, plateauing after consecutive weeks of recovery from recent lows. Firmer views on job security and household finances support the index, while expectations for the wider economy remain subdued.
Canada's annual inflation rate rose to 2.8 per cent in April, Statistics Canada said on Tuesday, in large part due to soaring prices at the pump. Energy prices overall rose a whopping 19.2 per cent year-over-year in April, following a 3.9 per cent increase the month before. Statistics Canada said the cost of gasoline specifically rose even quicker, and was...
Everything should be adjusted for inflation and population growth. This is something I always think of when looking at comparative stats. When I saw a few days ago that Canadian personal insolvencies had hit a level we hadn’t seen since 2009—the era of the global financial crisis and the so-called Great Recession—I immediately thought about this. And it turns out...
Canadian consumer confidence ticked up to 51.88, a modest improvement from recent weakness but still below its long-term average. People feel somewhat better about their own finances and job security, while views on the broader economy remain more subdued. Overall, the picture is fairly steady: a bit more confidence in current conditions, alongside continued caution about the near-term outlook.
The research gauged the opinions among Canadians on their perceptions and concerns regarding economic conditions.
Canada’s economic mood is edging up. Stronger views of personal finances and job security are lifting sentiment, while expectations have improved but remain in neutral territory. After a recent dip, confidence is stabilizing.
Canada’s unemployment rate rose 0.2 per cent in April as the country lost around 18,000 jobs and more people looked for work. Younger Canadians, though, saw unemployment rise by a larger margin than the overall rate, Statistics Canada shows as the rate for Canadians aged 15 to 24, rose by half a percentage point to 14.3 per cent.
The Bank of Canada is weighing whether to spell out how it responds to supply shocks in its monetary policy framework, including how much emphasis it places on the strength of the economy when tackling inflation.
Canada’s confidence has stabilized at neutral. The index has recovered from April lows, signalling a pause in pessimism rather than a clear recovery. Of note, personal finances and economic expectations remain weak. Improved expectations suggest cautious hope, but momentum is limited and fragile overall nationwide.
While the national unemployment rate has held steady in recent months, a surge in youth unemployment and widespread pessimism about job prospects point to a labour market that feels far weaker than top-line numbers suggest. This, as federal government announced plans Tuesday, to invest billions in skills training and workforce growth as part of the government’s spring economic statement.
Canadian consumer confidence is stuck in a holding pattern. The Bloomberg Nanos Canadian Confidence Index has edged up from recent lows but remains below the threshold that would signal broad optimism. Household sentiment is being pulled in opposite directions: job security remains relatively firm, cushioning anxiety, while pessimism about the wider economy and real estate prices continues to drag expectations...
Finance minister says economic resilience and affordability are priorities. Finance experts predict Tuesday's spring economic update will contain a number of new economic measures aimed at tackling affordability and the wider economic challenges of the country, and they expect the update will show a smaller-than-forecasted deficit. "That'll be the headline number that will likely get a lot of attention," said...
Canada's annual inflation rate rose to 2.4 per cent in March, Statistics Canada said on Monday. High prices for energy, especially gas, due to the war in Iran drove inflation higher. Energy prices were 3.9 per cent higher compared to a year ago, and the data agency said March's 21.2 per cent monthly increase in the price of gasoline was...
There's a new cost-of-living crisis unfolding around the world. And it's clear Canada will not be immune. Gas prices are already shocking drivers. But they're just the beginning. Inflation numbers this week will assuredly show the cost of living has sharply increased since the war in Iran began at the end of February.
After weeks of sliding sentiment, Canada’s economic mood may be finding a floor. The Bloomberg Nanos Canadian Confidence Index edged up to 47.23 from 46.31 last week, a modest break in the downward trajectory from its 2026 high of 54.19 in late February. The Expectations Index remains subdued at 42.60, while the Pocketbook Index holds above neutral at 51.86, suggesting...
A former Bank of Canada governor is predicting Canada has about a 30 per cent chance of falling into a recession, amid growing global economic pressures. The ongoing war in the Middle East — with blockades in the Strait of Hormuz and damage to production facilities — is taking a striking toll on the global economy, sending fuel prices soaring...
'Sometimes I find Canadians don’t actually realize how good they have it,' said IMF’s Western Hemisphere Department head. The International Monetary Fund lauded Canada’s fiscal position relative to its peers as Prime Minister Mark Carney prepares to give an update on his government’s finances. “Across the Group of Seven, Canada’s probably in the strongest position fiscally,” Nigel Chalk, director of...
Sobeys, Safeway owner says it's refusing to pay the charges; smaller grocers say they don't have a choice. As fuel costs rise with the ongoing uncertainty in the Middle East, some food suppliers in Canada are adding fuel surcharges to deliveries to make up for their added costs. CBC News has obtained documents showing at least four suppliers — Sunrise...
Canada’s economic mood has darkened decisively. Confidence has slipped below neutral territory with weak expectations about the economy and housing. The signal maybe that Canadians are bracing for leaner months ahead.
The Bank of Canada and the country’s major banks and financial firms met Friday to discuss cybersecurity risks raised by Anthropic PBC’s latest artificial intelligence model.
Nanos conducted an RDD dual frame (land- and cell-lines) hybrid telephone and online random survey of 1099 Canadians, 18 years of age or older, between March 31 to April 4, 2026 as part of an omnibus survey. The sample included both land- and cell-lines across Canada. The results were statistically checked and weighted by age and gender using the latest...
The Canadian economy is expected to see modest growth this year, but the ongoing war in the Middle East and continued trade uncertainty are among the risks to that projection.
Economists are boosting their forecasts for Canadian inflation and unemployment as the war in Iran drives up oil prices and heightens global instability. Article content Analysts in a Bloomberg survey see the consumer price index rising at a 2.4 per cent annual pace this year, up from 2.2 per cent in last month’s survey. Unemployment is expected to average 6....
This week lands between the Bank of Canada's last interest rate decision and next week's GDP report.
Canadian consumer confidence continues to slide and is moving from a somewhat positive position towards neutrality. Of note the four-week decline in consumer confidence in the Prairies has been greater than other regions.
Markets see the Bank of Canada hiking interest rates more aggressively this year amid surging oil prices and hawkish messaging from peer central banks.
The Bank of Canada held its principal interest rate at 2.25 per cent Wednesday, but warned rising oil and natural prices caused by the war in Iran will push up inflation in the short term. In its latest monetary policy decision, Canada’s top bankers painted a picture of a weaker-than-expected economy that is facing new levels of uncertainty because of...
Inflation was showing signs of easing in February but economists warn price relief will be short lived as the war in the Middle East fuels surging energy costs. Statistics Canada said Monday that February's inflation reading came in at 1.8 per cent year-over-year, half a percentage point lower than January's figures and just under economists' expectations for the month. The...
After a series of gains in consumer confidence in February, March is seeing a softening of consumer confidence in Canada as the Bloomberg-Nanos Index is returning to a trajectory towards neutral.
The Canadian economy lost more jobs in February than it has in four years — but Prime Minister Mark Carney says when compared to the United States, we're doing pretty good. "If you look at the performance of the labour market over the last six months we've created over 80,000 jobs," he said in Norway on Friday. "The United States...
Canada lost 84,000 jobs and the national unemployment rate rose to 6.7 per cent in February — 0.2 percentage points higher than the previous month, according to Statistics Canada. The Labour Force Survey for February was released Friday, and comes after January’s report showed the unemployment rate was 6.5 per cent. Those job losses were sharply lower than expected and...
Although consumer confidence is holding in marginally positive territory there are some interesting dynamics unfolding over the past four weeks. Forward looking expectations are up but Canadians are feeling the squeeze on job security.
