TORONTO – Five things to watch in the Canadian business world in the coming week:
Alberta’s new premier is sworn in
Danielle Smith will be sworn in on Tuesday, replacing incumbent Prime Minister Jason Kenney after being named leader of the United Conservative Party (UCP) on October 6. Two of Smith’s promises include challenging the federal carbon tax and a plan for Alberta sovereignty legislation. Energy policy will need to address oil, natural gas, hydrogen, carbon capture and nuclear energy.
The Canadian fashion retailer will release its second quarter results after the bell on Wednesday. In the company’s first quarter, profits jumped 86% to $33.3 million on a surge in revenue.
The Canadian Real Estate Association is expected to release September home sales figures on Friday. Last month, CREA cut its home sales forecast for the year and its price growth forecast. The updated forecast came as CREA revealed that seasonally adjusted home sales in August totaled 36,914, down 1% from July. The actual number of home sales was 38,368, down nearly 25% from August of last year.
Statistics Canada will release its monthly manufacturing survey for August on Friday. Manufacturing sales fell 0.9% to $71.6 billion in July, the third consecutive monthly decline. The agency said manufacturing sales were down in 12 of the 21 industries it tracks. The decline was led by the primary metals industry, which fell 9.9% to $5.6 billion in July as both prices and volumes fell.
The wholesale trade
Statistics Canada will also release its August wholesale trade figures on Friday. Wholesale sales fell 0.6% in July to $80.2 billion, mainly due to a decline in the personal and household goods subsector. The agency said sales fell in five of seven subsectors, which accounted for 63% of wholesale sales.
This report from The Canadian Press was first published on October 9, 2022.
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