This Week’s Economic Highlights – October 11
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
- Oil prices rose as an Iranian oil tanker was hit by missiles on Friday.
- The Canadian labour market posted a stellar performance in September, adding 53.7k jobs. Wage growth picked up as the unemployment fell to near-historic lows.
- The housing market continued to recover, contributing to an acceleration in mortgage credit growth.
- Given the evolution of the data, the Bank of Canada appears likely to remain on the sidelines when it meets at the end of this month.
- CPI report – the only key data release this week – confirmed that inflation remained tame in September. Both headline and core inflation registered a muted 0.1% increase on the month, leaving the readings flat on a year-over-year basis.
- Meanwhile, the JOLTs survey showed that worker demand had softened over summer. The number of job openings fell in August on a year-on-year basis – a third drop in as many months.
- Unless a breakthrough in the U.S.- China trade impasse is reached later today, benign inflation and further signs of the domestic economy cooling off should lead to an even broader agreement for further monetary easing among the FOMC members when they meet later this month.