Retail sales increased more than expected in September, and the preliminary estimate suggests that sales were also robust in October.
Economic News
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.
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.
Economic updates
Subscribe now to receive economic analysis, insights and thought leadership from Alberta Central’s Chief Economist Charles St-Arnaud.
|
Economic News
Inflation moderates with momentum in BoC’s core measures narrowly below 3%
Inflation decelerated to 3.1% in October, in line with expectations. The lower inflation rate is mainly the result of lower gasoline prices and slower price increases for food. However, service prices accelerated in October.
|
Economic News
Will it be a hard landing or a soft landing? The labour market will decide
The Bank of Canada has tightened monetary policy meaningfully in its fight against inflation, raising the policy rate to 5.00%, well into restrictive territory. However, history has shown that it takes between 5 to 7 quarters on average between the moment monetary policy moves into restrictive territory and the start of a downturn, suggesting that the next six months may be the window to observe a more meaningful deterioration in the economy.
|
Economic News
The housing market weakens further in October
Housing activity weakened in October for a fourth consecutive month, while national house prices fell for a second month. The decline in housing activity comes after the Bank of Canada increased its policy rate in June and July.
|
Economic News
Insolvencies took a pause in September, but the upward trend remains intact
Insolvencies declined in September on a seasonally-adjusted basis, likely taking a temporary pause in their gradual rising trend, and remained close to their highest level since the start of the pandemic. As such, proposals (a renegotiation of terms) are above their pre-pandemic levels at the national level and in almost every province.
|
Economic News
A softening of the labour market
Today’s Labour Force Survey data points to some softening in Canada’s labour market, with weaker than expected job gains and a rise in the unemployment rate to 5.7%. Moroever, unchanged hours worked suggest that economic activity remained modest in October.