To help make credit unions innovation ready, Alberta Central’s Chief Economist Charles St-Arnaud shares his analysis of the latest economic news. These commentaries and insights papers will help you understand what economic trends mean and how they could impact your credit union.
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Inflation accelerated to 2.0% in October, directly on the midpoint of the BoC’s inflation target.
The increase in business insolvencies over the past year, representing less than 5% of total insolvencies, is due to a rise in proposals (+33.7% y-o-y) and to bankruptcies (+4.9% y-o-y).
Employment increased less than expected in October, but the unemployment rate remain unchanged.
The release of the national accounts for the provinces shows that Canadian economic activity was revised higher for 2023 and that growth was robust for most provinces, except for a contraction in Newfoundland.
Today’s release of the monthly GDP shows that economic activity remains sluggish despite a preliminary number suggesting higher activity in September.
