TORONTO – Five things to watch in the Canadian business world in the coming week:
As the country’s housing market cools, the Canadian Real Estate Association is expected to release home sales figures for July on Monday. Home sales in June were down 24% from a year earlier.
Statistics Canada will release its June monthly manufacturing survey on Monday. The data comes after the agency reported that Canada’s economy remained stable in May, with real gross domestic product remaining unchanged in May after expanding 0.3% in April. Canadian manufacturing sales fell 2.0% to $71.6 billion in May, due to lower auto production.
The wholesale trade
Statistics Canada will also release its June wholesale trade figures on Monday. Wholesale sales rose 1.6% in May to $81.1 billion, boosted by higher sales in the food, beverage and tobacco subsector and the machinery, equipment group. and supplies.
The latest reading on inflation is expected on Tuesday when Statistics Canada releases its consumer price index for July. The June report showed the annual inflation rate rose to 8.1% from a year ago, its highest pace in nearly 40 years. Economists predict that Canada’s inflation rate may have peaked in June as gasoline prices soared.
Statistics Canada will release retail sales figures for June on Friday. Rising gasoline prices helped push Canadian retail sales up 2.2% in May to $62.2 billion. An initial estimate from Statistics Canada indicated a slowdown in the pace of sales gains in June.
This report from The Canadian Press was first published on August 14, 2022
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