This Week’s Economic Highlights – May 24

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

  • It was a down week for markets as concerns about global growth and trade weighed on sentiment.
  • Both retail and wholesale sales sent positive signals, rising in March, providing evidence of better momentum heading into spring.
  • Still, we expect that the economy struggled to expand in the first quarter, growing just 0.4% annualized. A likely ontrack economic outturn and intensifying trade tensions should balance positives, including the removal of steel and aluminum tariffs, leaving the Bank of Canada in its current holding pattern.

U.S. Highlights

  • Pessimism dominated markets this week, as negative headlines about U.S.-China trade relations continued.
  • UK PM Theresa May announced her resignation after repeated attempts to get her negotiated Brexit deal through parliament failed. The pound fell this week as markets worry about a no-deal Brexit on Oct. 31st.
  • Indicators from the U.S. factory sector continue to point to a weakening trend in the face of softer foreign demand and sentiment.