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.
- It was a generally weak week for Canadian markets as falling oil prices helped send the TSX lower.
- In contrast, the Canadian economic data this week was generally encouraging. Wholesale trade gained nicely in July, as did construction activity. The payrolls data showed another month of gains, making it seven-for-seven so far this year.
- The data broke from the more modest reports earlier this month – continuing the trend of hot and cold economic data. All told, the Canadian economy appears to have started the third quarter on decent footing.
- Downturn in U.S. consumer confidence and rising political risks as the House began impeachment inquiries against President Trump, triggered volatility in global markets.
- US personal incomes jump in August (to 0.4% month-on-month from 0.1% previously), even as spending was subdued (0.1% in August vs. 0.5% in July).
- Activity in the housing market continued to perk up with larger-than-expected rises in both new and pending home sales on the heels of similar increases in housing starts and permits last week.