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The economy shed a net 17,300 jobs in May, entirely in full-time work, while the jobless rate inched up to 5.2%, Statistics Canada said. Analysts surveyed by Reuters had forecast a net gain of 23,200 jobs and for the unemployment rate to edge up to 5.1% in May after staying at 5.0% since December. A series of surprisingly strong economic data and stubbornly high inflation led the Bank of Canada to raise its overnight rate to a 22-year high of 4.75% on Wednesday. "While this is an ugly set of jobs data, the labour force survey is notoriously volatile," said Royce Mendes, head of macro strategy at Desjardins Group. Reports on jobs, inflation and gross domestic product are due out ahead of the next policy announcement on July 12.

Persons: Andrew Grantham, Paul Beaudry, Beaudry, Royce Mendes, Ismail Shakil, Steve Scherer, Fergal Smith, Dale Smith, Susan Fenton, Nick Macfie, Jonathan Oatis Organizations: OTTAWA, Statistics, Reuters, Bank of Canada, Bank of, CIBC Capital Markets, Desjardins Group, Canadian, Thomson Locations: Canada, Statistics Canada, Bank of Canada, Ottawa, Toronto

☆ Canada March retail sales down 1.4% on autos, seen up 0.2% in April
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: 1 min

May 19 (Reuters) - Canadian retail sales fell by 1.4% in March from February at C$65.29 billion ($48.83 billion), on lower sales at motor vehicles and parts dealers, as well as gasoline stations, Statistics Canada said on Friday. Sales were seen to rise by 0.2% in April, the agency said in a flash estimate. Sales were down in five of nine subsectors, representing 55.5% of retail trade. In volume terms, retail sales decreased 1.0%. (Percent changes) Mar Mar Feb(rev) Feb(prev)mo/mo yr/yr mo/mo mo/moTotal -1.4 +2.4 -0.2 -0.2Excluding autos/parts -0.3 +0.5 -0.7 -0.7NOTE: Analysts surveyed by Reuters forecast a 1.4% decline in retail sales in March from February.

The economy gained a net 34,700 jobs, almost entirely in the private sector, and the unemployment rate held steady at 5.0%, Statistics Canada reported. Analysts surveyed by Reuters had forecast that a net 12,000 jobs would be gained in March and the unemployment rate would edge up to 5.1%. Since December, the jobless rate has stayed just a notch above the record low of 4.9% observed in mid-2022. Thursday's jobs figures as well as robust GDP data released last week are likely to complicate the central bank's plans to avoid further rate moves. There were 18,800 full-time jobs added in the month, and 15,900 part-time jobs.

OTTAWA, March 31 (Reuters) - The Canadian economy grew more than expected in January and is seen expanding further in February, data showed on Friday, results that are likely to fuel concern by the central bank that inflation has yet to be fully tamed. The economy gained by 0.5% in January, ahead of analysts' forecasts of a 0.3% rise, after contracting 0.1% in December, Statistics Canada said. The Bank of Canada became the first major central bank to pause interest rate hikes in March after increasing them at eight consecutive previous meetings. With the key overnight rate now at 4.5%, the bank said it would not raise rates again if inflation came down as forecast. While inflation has eased, falling to 5.2% in February from a high of 8.1% last year, the economy is expanding faster than the central bank had forecast in January.

☆ Canada gains 21,800 jobs in February, jobless rate holds at 5.0%
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +1 min

OTTAWA, March 10 (Reuters) - The Canadian economy gained a net 21,800 jobs in February, exceeding analyst forecasts, while the jobless rate also unexpectedly held steady at 5.0%, Statistics Canada data showed on Friday. Analysts surveyed by Reuters had forecast a net gain of 10,000 jobs and for the unemployment rate to edge up to 5.1%. The services sector added a net 4,200 jobs, helped by the gains in health care and public administration, while employment in the goods sector increased by a net 17,500 jobs, led by utilities and manufacturing sectors. The Canadian dollar strengthened to 1.3787 per U.S. dollar after jobs data, up 0.3% on the day. Reporting by Ismail Shakil and Dale Smith in Ottawa; editing by Jason Neely and John StonestreetOur Standards: The Thomson Reuters Trust Principles.

☆ Canada's trade surplus widens to C$1.92 bln in January on food, autos
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

Total exports rose 4.2% in January on the back of gains in all product categories that more-than offset a fall in energy products exports. Farm, fishing and intermediate food products, motor vehicles and parts, and metal and non-metallic mineral products all contributed roughly equally to the rise in exports, Statscan said. By volume, total exports were up 5.3% in January. Imports increased 3.1% after two consecutive monthly declines, largely driven by motor vehicles and parts as well as industrial machinery, equipment and parts. By volume, total imports were up 4.1%.

☆ Canada posts surprise January trade surplus of C$1.9 billion on export gains
▼ + stars: | 2023-03-08 | by ( Ismail Shakil | ) www.reuters.com time to read: +2 min

OTTAWA, March 8 (Reuters) - Canada recorded an unexpected trade surplus of C$1.9 billion ($1.38 billion) in January, driven by broad-based gains in exports, while imports posted a smaller increase led by motor vehicles and parts, Statistics Canada data showed on Wednesday. Statscan also revised December's trade figures to a surplus of C$1.2 billion from an initial C$160 million deficit. read moreTotal exports rose 4.2% in January on the back of gains in all product categories that more than offset a fall in energy products exports. By volume, total exports were up 5.3% in January. Imports increased 3.1% after two consecutive monthly declines, largely driven by motor vehicles and parts as well as industrial machinery, equipment and parts.

☆ Canada's economy unexpectedly stalled in Q4; January rebound likely
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +2 min

OTTAWA, Feb 28 (Reuters) - The Canadian economy recorded zero growth in the final three months of 2022, massively underperforming expectations, though economic activity likely rebounded with a 0.3% increase in January, Statistics Canada data showed on Tuesday. The 0.0% growth reading in fourth-quarter gross domestic product capped five consecutive quarterly increases and missed analysts' average forecast of a 1.5% rise. It was also well below the Bank of Canada's forecast for 1.3% annualized GDP growth in the quarter. The economy contracted 0.1% in December from November, also below analysts' expectations that GDP would be unchanged in the month. Still, Statscan said the economy likely started 2023 on a stronger footing, with increases in sectors including mining, quarrying, and oil and gas extraction and wholesale trade indicating a 0.3% rise.

☆ Canada annual inflation rate slows to 5.9% in January
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +1 min

OTTAWA, Feb 21 (Reuters) - Canada's annual inflation rate fell to 5.9% in January, largely on the base year effect, as gasoline prices, mortgage interest and food prices rose, Statistics Canada said on Tuesday. Analysts polled by Reuters had expected the annual rate to fall to 6.1% in January from December. Percent changesMonth-on-month Year-on-yearJan Dec Jan DecCPI - all items +0.5 -0.6 +5.9 +6.3CPI - common n/a n/a +6.6 +6.6CPI - median n/a n/a +5.0 +5.2CPI - trim n/a n/a +5.1 +5.3Bank of Canada core +0.3 -0.3 +5.0 +5.4All items ex food/energy +0.2 -0.1 +4.9 +5.3Goods +1.0 -1.7 +6.4 +6.9Services +0.1 +0.3 +5.3 +5.6Energy +1.3 -7.9 +5.4 +7.3Seasonally adjusted +0.3 0.0 n/a n/aCore CPI, SA +0.1 +0.3 n/a n/aNOTE: Analysts in a Reuters survey had on average forecast January CPI to be 6.1% annualized, and to be up 0.7% on the month. (Reporting by Dale Smith; Editing by Ismail Shakil)((ismail.shakil@tr.com))Keywords: CANADA ECONOMY/INFLATIONOur Standards: The Thomson Reuters Trust Principles.

OTTAWA, Feb 21 (Reuters) - Canada's annual inflation rate eased more than expected in January to 5.9%, data showed on Tuesday, which should allow the Bank of Canada to stay on the sidelines at its next meeting while it lets previous rate hikes sink in. Before the inflation figures were released, money markets saw a 100% chance for another rate increase this year. The bank forecasts inflation to slow to about 3% by the middle of 2023, and to come down to its 2% target next year. Excluding food and energy, January prices rose 4.9% compared with a 5.3% increase in December. The figures show prices coming down faster in Canada than in the United States, where annual inflation gained 6.4% in January.

OTTAWA, Feb 16 (Reuters) - Bank of Canada Governor Tiff Macklem said on Thursday that the economy remains overheated and the jobs market is too tight, as he kept the door open to future interest rate hikes. On Jan. 25, the Bank hiked its key interest rate to 4.5%, the highest level in 15 years, and became the first major central bank to say it would hold off on further increases as long as prices eased as forecast. "The Canadian economy remains overheated and clearly in excess demand and this continues to put upward pressure on many domestic prices," Macklem said. "The tightness in the labor market needs to ease, wage growth needs to moderate and service price inflation needs to cool" or else more interest rate hikes will be needed, he added. At its last policy meeting, the Fed lifted its benchmark overnight interest rate by a quarter of a percentage point to the 4.50% to 4.75% range.

☆ Canada gains 150,000 jobs in January, jobless rate holds at 5.0%
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +1 min

Feb 10 (Reuters) - Canada's economy gained a net 150,000 jobs in January, mostly in full-time work and far ahead of analyst forecasts, Statistics Canada data showed on Friday. The jobless rate held at 5.0%, beating forecasts it would rise to 5.1%. Employment in the goods producing sector grew by a net 25,400 jobs, largely in construction. Hourly wage figures are for permanent employees. (Reporting by Dale Smith; Editing by Ismail Shakil) ((ismail.shakil@tr.com))Keywords: CANADA ECONOMY/EMPLOYMENTOur Standards: The Thomson Reuters Trust Principles.

The jobless rate held steady at 5%, which is just a decimal point higher than the record low, Statistics Canada (Statscan) said. Analysts surveyed by Reuters had forecast a net gain of 15,000 jobs and for the unemployment rate to edge up to 5.1% in January. "However, that won't stop markets reacting to today's strong data by pricing in a greater probability of further hikes, and pricing out rate cuts," he said. Before the jobs numbers, markets had been betting that the Bank of Canada's next move would be to cut rates. When he announced a pause on rates, Governor Tiff Macklem said it was "conditional" and did not rule out further increases.

☆ Strong Canada retail sales forecast adds fodder to rate hike argument
▼ + stars: | 2023-01-20 | by ( Ismail Shakil | ) www.reuters.com time to read: +1 min

The November monthly sales decline was less than the 0.5% drop analysts expected. By volume, retail sales were down 0.4% in November from October, Statistics Canada said. "Ongoing economic momentum will likely prompt the Bank of Canada to raise rates another 25bps next week," Royce Mendes, head of macro strategy at Desjardins Group, said in a note. Money markets see a roughly 70% chance of a quarter-point hike by the Bank of Canada next week. Reporting by Ismail Shakil and Dale Smith in Ottawa Editing by Frances KerryOur Standards: The Thomson Reuters Trust Principles.

OTTAWA, Jan 17 (Reuters) - Canada's annual inflation rate eased more than expected in December as gas prices came down but core measures remained little changed from the previous month, Statistics Canada said on Tuesday, making another interest rate hike this month likely. Inflation slowed to 6.3% in December from 6.8% in November, a notch lower than the 6.4% median forecast of analysts. Prices fell 0.6% from the previous month, again showing price pressures easing more than analysts' forecast for a 0.5% decline. Most analysts agreed the Bank of Canada would hike rates by a quarter of a percentage point on Jan. 25, when it next meets. Money markets see a 77% chance of a quarter-point hike by the Bank of Canada next week, up from 70% before the data.

☆ Canada posts hefty job gains, raising chances of another rate hike
▼ + stars: | 2023-01-06 | by ( Ismail Shakil | ) www.reuters.com time to read: +2 min

The economy gained a net 104,000 jobs in December, far exceeding analysts' forecasts, while the jobless rate decreased to 5% from 5.1% in November, Statistics Canada data showed. Analysts surveyed by Reuters had forecast a net gain of 8,000 jobs and for the unemployment rate to edge up to 5.2%. Money markets now see a 75% chance of a 25-bp rate increase in January, up from roughly 60% before the data. Employment in the goods-producing sector rose by a net 22,200, mainly in construction. Employees in the private sector rose by 112,000 in December, the largest increase since February, while public sector and self-employed workers were both little changed, Statscan said.

☆ Canada's economy grew 0.1% in October, with another increase likely in November
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +1 min

OTTAWA, Dec 23 (Reuters) - The Canadian economy grew by 0.1% in October versus September, meeting expectations, with another 0.1% increase in GDP seen likely in November, Statistics Canada data showed on Friday. Analysts polled by Reuters had forecast GDP would rise 0.1% in October from September. The service producing sector gained by 0.3%, led by gains in public sector, wholesale and client-facing industries, and more-than offset a contraction in goods-producing industries, Statistics Canada said. In a preliminary estimate for November, Statistics Canada said GDP likely increased 0.1% in November, driven by gains in sectors including utilities and wholesale trade that are expected be partially offset by decline in construction, retail trade and mining. The Canadian dollar was trading at 1.3610 to the U.S. dollar, or 73.48 U.S. cents.

OTTAWA, Dec 21 (Reuters) - Canada's annual inflation rate eased to 6.8% in November as gasoline price rose more slowly, data showed on Wednesday, leaving the door open for another interest rate increase in January. Consumer prices rose 0.1% from October, Statistics Canada said, above analysts' expectations they would be flat. Excluding food and energy, prices rose 5.4% versus a 5.3% gain in October. "Today's data will leave the door open to a 25 basis point rate hike in November," said Royce Mendes, head of macro strategy at Desjardins Group. Gasoline prices rose 13.7% after gaining 17.8% in October, largely driven by price declines in Western Canada, Statscan said.

☆ Canada October retail sales up 1.4% on gasoline, seen down 0.5% in November
▼ + stars: | 2022-12-20 | by ( Steve Scherer | ) www.reuters.com time to read: +2 min

October retail sales gained the most in five months, though it was a notch lower than the 1.5% rise forecast by analysts. September's decline was revised downward a decimal point to 0.6% from a previously reported drop of 0.5%, Statistics Canada said. October sales were driven mostly by price increases at gasoline stations and in food and beverage, Statistics Canada said. In volume terms, retail sales were flat. "Retail sales posted a solid increase in October, though the gain came from higher prices, particularly at gasoline stations," Shelly Kaushik, an economist at BMO Capital Markets, said in a note.

☆ Former officer Aaron Dean found guilty of manslaughter in the shooting death of Atatiana Jefferson
▼ + stars: | 2022-12-15 | by ( Daniella Silva | ) www.cnbc.com time to read: +6 min

Former Fort Worth police officer Aaron Dean attends the first day of his murder trial on Monday, Dec. 5, 2022, in Fort Worth. Dean fatally shot Atatiana Jefferson in 2019 during a police call at her home. Aaron Dean, a white Fort Worth police officer, fatally shot Atatiana Jefferson, a 28-year-old Black woman who had been playing video games at home with her 8-year-old nephew before she was shot. During his testimony, Dean said that after he shot Jefferson, he was briefly blinded by muzzle flash. Prosecutors have also argued that Dean shot Jefferson "not a second" after shouting for her to put up her hands, without giving her time to process and follow his commands.

☆ Canada exports rose in October helped by weak dollar
▼ + stars: | 2022-12-06 | by ( Ismail Shakil | ) www.reuters.com time to read: +2 min

Exports rose 1.5%, helped by higher exports of medicinal products as well as gold bars and coins to the United States, Statscan said. "Canada's merchandise trade surplus widened in October, with a weaker Canadian dollar providing a helping hand. When expressed in U.S. dollars, Canadian exports were down 1.3% in October, and imports decreased 2.2%, Statscan said. Exports of farm, fishing and intermediate food products rose 10.2% in October to a record-high C$5.5 billion, helped by canola and wheat. The Canadian dollar was trading at 1.3625 to the greenback, or 73.39 U.S. cents, down 0.3% on the day.

Canada added 10,100 jobs in November, broadly in line with the forecast gain of 5,000, while the jobless rate fell to 5.1%, Statistics Canada said. Analysts had forecast the jobless rate would tick up to 5.3%. The November report follows a monster gain of 108,300 jobs in October and comes just days ahead of a Bank of Canada policy-setting meeting on Wednesday. The central bank has raised rates by 350 basis points since March, one of its steepest tightening cycles ever. The small jobs gain was entirely for full-time work and mostly in the services sector, while the participation rate edged down to 64.8% from 64.9% in October.

☆ Canada October producer prices up 2.4% on petroleum products
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +1 min

Nov 18 (Reuters) - Producer prices in Canada rose by 2.4% in October from September on higher prices for refined petroleum energy products, Statistics Canada said on Friday. The depreciating Canadian dollar continued to affect prices. Raw materials prices were up 1.3% in October, and were up 9.0% on the year. "If the CAD-USD exchange rate had remained the same from September to October, the overall IPPI would have increased 1.7% instead of 2.4%," Statscan said. (Reporting by Dale Smith)Our Standards: The Thomson Reuters Trust Principles.

☆ Canada annual inflation rate remains at 6.9% in October on gasoline and mortgage interest
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +1 min

Nov 16 (Reuters) - Canada's annual inflation rate held at 6.9% in October, largely on higher gasoline prices and mortgage interest, Statistics Canada said on Wednesday. Analysts polled by Reuters had expected the annual rate to remain at 6.9% in October from September. Percent changesMonth-on-month Year-on-yearOct Sep Oct SepCPI - all items +0.7 +0.1 +6.9 +6.9CPI - common n/a n/a +6.2 +6.2CPI - median n/a n/a +4.8 +4.7CPI - trim n/a n/a +5.3 +5.2Bank of Canada core +0.4 +0.4 +5.8 +6.0All items ex food/energy +0.3 +0.3 +5.3 +5.4Goods +1.2 -0.1 +8.4 +8.2Services +0.2 +0.3 +5.4 +5.6Energy +6.2 -4.4 +16.2 +14.0Seasonally adjusted +0.6 +0.4 n/a n/aCore CPI, SA +0.2 +0.4 n/a n/aNOTE: Analysts in a Reuters survey had on average forecast October CPI to be 6.9% annualized, and to be up 0.7% on the month. CPI Core was expected to be 6.0%. (Reporting by Dale Smith; Editing by Julie Gordon)((julie.gordon@tr.com))Keywords: CANADA ECONOMY/INFLATIONOur Standards: The Thomson Reuters Trust Principles.

☆ Canada posts blowout job gain in October, unemployment rate unchanged
▼ + stars: | 2022-11-04 | by ( Julie Gordon | ) www.reuters.com time to read: +2 min

[1/2] A help wanted sign at a store along Queen Street West in Toronto Ontario, Canada June 10, 2022. The economy added a net 108,300 jobs last month, easily beating forecasts for 10,000 new jobs, while the jobless rate was unchanged at 5.2%. The blowout gain was entirely in full-time work, spread across both the goods and services sectors. The Bank of Canada raised its policy rate by 50 basis points to 3.75% last week and said while more increases would still be needed, it was nearing the end of its tightening campaign. The core-age unemployment rate stands at 4.2%, slightly above July's record low, but in a historically tight range last seen in the 1970s.

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