TD/ Canada Trust Economic Highlights – April 22

HIGHLIGHTS OF THE WEEK – April 22/15

United States

  • The week has been a busy one for investors with a kickoff to Q1 earnings season coupled with a slew of economic reports largely completing the picture of economic activity during the first-quarter.
  • Reports from China were lackluster, with trade, industrial production, and GDP all below expectations.
  • European data was more constructive, with exports and industrial production benefiting from a lower euro, and inflation figures slightly more upbeat. However, the economic outlook remains overshadowed by fears of potential Greek insolvency.
  • U.S. data has yet to convince that the winter slump was temporary, with a strong bounce-back in retail spending, homebuilding, and industrial production failing to materialize.

Canada

  • The Bank of Canada held the overnight rate at 75 basis points this week. In addition, the Bank’s updated economic forecast suggests a stand pat policy stance is likely through the remainder of 2015.
  • Economic data this week underscored the central bank’s expectations for a weak economic turnout in the first quarter of the year. Manufacturing shipments fell for a second consecutive month in February. Retail sales jumped 1.7% in nominal terms and 1.3% in real terms in February but are still down from their November peak.
  • But other economic data out this week suggests the slowdown in Q1 may just be a temporary soft patch. The housing market is yet again to the rescue, with national sales and prices up strongly in March. Mean­while, core inflation remained above the Bank of Canada’s 2% target, clocking in at 2.4% year-over-year in March.

    John Maveety
    Manager TD Canada Trust
    P: (613) 371-1984
    F: (888) 899-1984

John Maveety
Manager, Residential Mortgages – Greater Ottawa Area TD Canada Trust
T: (613) 371-1984 F: (888) 899-1984 P: (866) 767-5446

John.Maveety@td.com

– See more at: http://www.ottawaishome.com/english/news/td-canada-trust-economic-highlights-april-6.htm#sthash.9bWdeorH.dpuf

John Maveety
Manager, Residential Mortgages – Greater Ottawa Area TD Canada Trust
T: (613) 371-1984 F: (888) 899-1984 P: (866) 767-5446

John.Maveety@td.com

– See more at: http://www.ottawaishome.com/english/news/td-canada-trust-economic-highlights-april-6.htm#sthash.9bWdeorH.dpuf

John Maveety
Manager, Residential Mortgages – Greater Ottawa Area TD Canada Trust
T: (613) 371-1984 F: (888) 899-1984 P: (866) 767-5446

John.Maveety@td.com

– See more at: http://www.ottawaishome.com/english/news/td-canada-trust-economic-highlights-april-6.htm#sthash.9bWdeorH.dpuf