Retail sales rose modestly in July and the preliminary estimate suggests that sales remained unchanged. After some strength in late 2022 and earlier this year, there are clear signs that consumer spending is stalling.
Economic Insights
As part of our ongoing commitment to help make credit unions innovation ready, Alberta Central’s Chief Economist Charles St-Arnaud shares his Economic Insights. These commentaries are here to help you understand what economic trends mean and how they could impact your credit union.
Data & Analytics
Explore the analytics and data that are important to your bottom line, with a focus on Alberta communities large and small. You can find the Socio-Economic Portal here, with further data and analytics papers to come.
Research & Reports
Alberta Central’s research and reports provide you with access to the information you need, when you need it, with a laser focus on Alberta credit unions and specific topics you and your members care about.
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Economic Insights
Inflation, and its momentum, accelerated in August
Inflation accelerated to 4.0% in August, more than expected. The higher inflation rate is largely the result of higher gasoline prices and shelter costs, especially mortgage interest payments, rent and electricity costs. More importantly, all measures of underlying inflationary pressures accelerated in August, suggesting increased stickiness in inflation.
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Economic Insights
The labour market proves more resilient than expected
Today’s Labour Force Survey data points to a resilient labour market in Canada, with stronger than expected job gains and an unemployment rate of 5.5%. Moreover, the strong rise in hours worked suggests a rebound in economic activity in August.
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Economic Insights
The Bank of Canada keeps rates unchanged
Economic insight provided by Alberta Central Chief Economist Charles St-Arnaud. Bottom line The Bank of Canada kept its policy rate to 5.00% and will continue quantitative tightening (QT), in line…
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Economic Insights
Growth unexpectedly falters in Q2
Growth in the second quarter was much weaker than expected after a strong start to 2023. The details show a significant slowdown in consumer spending and continued contraction in residential investment, as higher interest rates are impacting those sectors.
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Economic Insights
The rising trend in insolvencies remains intact
Insolvencies eased again in July on a seasonally-adjusted basis, despite the decline in June, insolvencies remain on an rising trend and close to their highest level since the start of the pandemic.