Today’s release of the monthly GDP shows that the Canadian economy contracted in April, and the preliminary estimate suggests that economic activity eased again in May.
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.
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Economic updates
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Economic News
Core inflation eased in May, but not enough to alleviate the BoC’s concerns
Inflation was unchanged at 1.7% in May, in line with expectations, while the Bank of Canada’s preferred measures of core inflation eased to 3.0%, at the upper band of the inflation target, from 3.1% on April.
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Economic News
Retail sales take a tumble in May due to trade uncertainty
Retail sales rose slightly in April, but slightly less than expected.
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Economic News
Households’ debt burden rises, but the debt-service ratio is unchanged despite lower rates
Households’ indebtedness increased slightly in 2025Q1, the first increase since 2023Q1, but remained close to its lowest level since 2015, if we exclude the pandemic.
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Economic News
A sharp rise in insolvencies in April could be the start of a new trend
Insolvencies surged 10.0% m-o-m on a seasonally-adjusted basis (SA) in April, following some easing since January.
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Economic News
The labour market remains weak, despite some resilience
Employment increased 8.8k in May, better than expected. However, the unemployment rate edged higher to 7.0%, its highest since 2016, if we exclude the pandemic.