This Week’s Economic Highlights – January 4
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
- A soft jobs report that left the unemployment rate at a historically-low 5.6% highlighted a light week for Canadian data.
- The S&P/TSX composite index is up modestly on the week, but global risk-off sentiment and a decline in energy prices have weighed heavily on the index in recent weeks.
- Oil prices enjoyed a strong run this week, with Brent rising around 9% and WTI up 6% as markets weigh recent data suggesting large Saudi production cuts against global growth concerns.
- The New Year came with baggage from the old for thousands of federal employees caught in the middle of a budget tug-of-war between Congress and the White House that has led to a partial government shutdown.
- The volatility in stock markets continued early in the week as a slew of weaker-than-expected economic data and signs of a slowing China roused investor concerns that global growth may be slowing faster than expected.
- Fortunately, a strong payrolls tally lifted investors’ spirits by week’s end. Employment rose 312k and the unemployment rate edged up to 3.9% as more people joined the workforce. Hourly earnings growth also topped 3% (year-on-year) for a third consecutive month.