Canadian economic news: 5 things to watch
Five things to watch in the Canadian business world in the coming week:
Vaccines for truckers:
Economists, manufacturers and retailers will be watching the fallout from Ottawa’s vaccination mandate for truckers entering Canada from the United States, which took effect Jan. 15. Critics have suggested the requirement could lead to bottlenecks and potential price hikes for the flow of goods across the border.
The Bank of Canada is due to release its Business Outlook Survey and its Canadian Consumer Expectations Survey on Monday. The survey comes ahead of the central bank’s rate decision and monetary policy report on Jan. 26.
The Canadian Real Estate Association is expected to release December home sales numbers on Monday, while the Canada Mortgage and Housing Corporation will release December housing starts numbers on Tuesday. CREA figures for November showed seasonally adjusted home sales rose 0.6% to 54,222 in the month from 53,915 in October.
Statistics Canada is expected to release its latest reading of inflation on Wednesday along with its consumer price index for December. The annual rate of inflation remained stable in November, with the consumer price index increasing by 4.7% compared to a year ago.
Statistics Canada is expected to release several indicators of the state of the economy in November ahead of the spike in COVID-19 cases fueled by Omicron. The agency will release its monthly manufacturing survey figures on Monday, wholesale trade on Wednesday and retail sales on Friday, all for November.
This report from The Canadian Press was first published on January 16, 2022.