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.
- This week saw a slew of data releases confirming the moderating growth narrative, ranging from a slight change in tone in the Business Outlook Survey, weak manufacturing and trade data releases, and modest upticks in retail and home sales.
- Consumer price inflation was the odd one out, showing a firming in both headline and core measures nearer to the Bank of Canada’s target.
- Regionally, Alberta’s provincial elections saw the UCP win a majority government, while Newfoundland & Labrador’s government tabled its pre-election FY2019-20 budget.
- Spring is coming to the U.S. economy after a tough winter. An impressive bounce back in retail sales in March indicates that consumer spending will bounce back in the second quarter after a disappointing start.
- First quarter GDP growth is released next week, and it is likely going to be messy. A strong headline is likely to belie weakness domestically, while the reverse is likely to be the case in Q2.
- Overall growth in the first half of the year is tracking close to our March forecast, the quarterly pattern is somewhat reversed. The overall story that the economy has slowed from its 2018 pace, but remains above trend, remains intact.