TD Canada Trust provides a weekly economic highlight report that we choose to share with our clients and those who follow us. This is an easy place to stay current on the broader economic conditions in Canada and the U.S. so that you are better informed to make stronger decisions around your own real estate investments. We are always available to answer any questions or walk through your real estate investment goals for now or in the future.

Full Details of the TD Canada Trust Economic Highlights Here

Canadian Highlights

• This week’s data painted a complex picture of the Canadian economy. Housing market continued its recovery while manufacturing and retail sales disappointed.
• The global manufacturing slump may finally be hitting Canada. The ongoing decline in U.S. manufacturing will weigh on the Canadian manufacturing sector in months to come.
• With trade tensions, uncertainty and softening global growth seeping into Canada, the Bank of Canada will likely come off the sidelines to deliver a rate cut later this year.

U.S. Highlights

• In the main financial event of the week, the Federal Reserve cut its key lending rate by 25 basis points, but was mum on the prospect for additional cuts. Our latest forecast sees slower economic growth leading to at least one more rate cut.
• Fed rate cuts will help to offset some of the dampening effects of trade-uncertainty and weak global growth. In fact, this week saw early signs that the American housing market is responding to lower rates.
• Oil prices spiked early in the week on the attack in Saudi Arabia but gave up much of the gains as the week ended. Elsewhere, the strike at GM is likely to add volatility to the economic growth profile.