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How the pandemic has shifted consumer spending

Travel may be out, but power sports are thriving

Concept of important choices of a businessman, Business Challenge

Time to consider a basic income?

A Senate committee report suggests CERB could be made into a more permanent solution

wall street new york stock exchange, the world's largest stock exchange by market capitalization of its listed companies. august 8, 2010 in manhattan, new york city.a

U.S. banks report Q2 profits

Stock markets were unsettled early Wednesday as earnings came in from JPMorgan, Wells Fargo and Citigroup

Oil drilling rig, tanghai county of hebei province oil fields in China

Following dismal Q2, oilpatch optimism expected to rise

But a major second wave of Covid-19 could turn optimism to fear

Man refuel his car on gas station

After 3 months of declines, U.S. CPI inches upward in June

Consumer prices rose by 0.6% thanks to surging gas prices

Feds extend wage subsidy until December

The government expects more people to shift from the CERB to the wage subsidy as businesses reopen

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Consumer spending outpaces 2019 levels in June: RBC

Consumer spending was up 4% compared to last year by the end of June

Macro close-up of Federal Reserve logo on USA Federal Reserve Note

Fed slowing bond purchases

Still, the central bank did purchase US$1.3 billion in corporate bonds in late June

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Looking ahead to the BoC’s monetary policy report

The report could “speak volumes about the medium-term rate outlook,” says CIBC Economics

Indecisive and lost man chooses the right path

More than 3 million workers still affected by shutdowns: StatsCan

More people found jobs in June, but more people were also looking for work, the agency's report said

Concept of important choices of a businessman, Business Challenge

Questions remain following fiscal snapshot

Snapshot provides clarity on deficit but leaves many questions unanswered

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Only 30% of Canadians feel safe returning to work: StatsCan

Plus, age and region seems to affect people's sentiment about precautionary measures

Interior view of the Canada Commons of Parliament, Ottawa

Liberals forecast $343.2B deficit, slow return to normal

The fiscal update says a recovery can't begin in earnest until there's an effective vaccine or treatment

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PBO estimates cost of a basic income program

Such a program would likely face “fierce” political resistance, senator warns

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Home sales rebound in Toronto, prices up almost 12%

Barring any major setbacks, stronger market conditions should continue in the second half

Parliament Hill building closeup in Ottawa, Canada

Ahead of fiscal update, RBC projects $265B deficit

The deficit is sustainable, a report says, and the feds should avoid austerity during the recovery

Toronto skyline in financial district

Bank of Canada survey reveals uncertainty for employers, consumers

The outlook for growth in household income dropped to its lowest level in the survey's history

House bubble

Expect an increase in mortgage defaults

Layoffs and reduced wages will lead to financial hardship for many, DBRS warns

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Don’t expect ratings to stabilize this year, Fitch warns

More than one third of corporate credit ratings have a negative outlook, the agency finds

senior client debt empty wallet

Don’t let low insolvency numbers fool you

A report says the numbers are out of sync with the financial struggles many are facing

Worker in protective clothing in factory using machine

U.S. employment gains in June boost markets

Employers added 4.8 million jobs, but a spike in Covid-19 cases could slow progress

Edmonton downtown, James Macdonald Bridge and the Saskatchewan River at night

Fitch downgrades Alberta

Agency reduces province's credit rating to AA-

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Canadian economy sees record plunge in April

GDP fell 11.6% during a full month of closures of non-essential businesses

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Expect a slow economic recovery: Fitch

The rating agency warns that the risk of renewed nationwide lockdowns “remains high”

Woman Selling Soft Drinks At Farmers Market Stall

Canadians cutting spending, borrowing amid pandemic: survey

Those who don't need to borrow due to lost income are steering clear of new debt