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May home sales fell 7.4%, but on pace for record level this year: CREA

Sales are expected to reach typical levels through the latter half of 2021 and into 2022

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Fitch boosts growth, inflation forecasts

The inflation spike is likely temporary, but a Fed hike could come sooner than previously expected

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May retail sales fell 1.3% as Americans spend less on goods

Spending is expecting to shift to services from goods through the rest of the year

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Delicate task for Fed: Deciding when to pull back on low rate support

Escalating inflation has intensified pressure on the central bank

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Moody’s expects metals to stay pricey in global recovery

Persistent supply and demand imbalances support higher near-term prices

debt

Household debt-to-income ratio fell in first quarter: Statscan

The household debt service ratio also fell while the household savings rate rose

Digital World

Covid vaccine-sharing discussions to dominate G7 summit talks

Leaders will also discuss the economy and a global minimum tax of at least 15% on corporations

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Ontario unlikely to balance budget by 2030: FAO

The FAO warned that economic growth could slow if health measures and vaccinations fail to contain Covid-19

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Digital shift cushioned blow to post-pandemic growth outlook, BoC deputy says

How much help the economy will need from the central bank remains uncertain

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Alberta’s economic outlook on the rise: ATB Financial

The bank expects the province's real GDP to grow by 5% in 2021

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Another jump in prices tightens the squeeze on U.S. consumers

The U.S. saw inflation rise by 5% over the last 12 months, the biggest jump since 2008

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Stagflation is U.S. economists’ biggest fear, SIFMA says

Survey finds a variety of upside and downside risks on forecasters' radar

Companies outperform on digitization, prepare for further growth

Canadian biz foresees M&A activity, an EY survey said

  • By: Staff
  • June 9, 2021 June 9, 2021
  • 14:07
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Bank of Canada keeps key interest rate target on hold

The central bank expects a strong economic recovery starting this summer

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Multinationals may face higher taxes under G7 proposal: Fitch

Globalization, digitalization and the need to repair post-pandemic finances are behind the global tax idea

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Sovereign defaults hit record level in 2020: Fitch

Downgrade pressure has eased, but default risk remains

House bubble

Consumer debt driven by new mortgages, but credit card debt at six-year low

The largest increases in consumer debt were in British Columbia and Ontario

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Carney warns of climate exposure at RIA conference

The former central bank governor spoke about adjusting portfolios for climate change

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Canada to tax tech giants as planned despite G7 tax deal, says Freeland

G7 finance ministers agreed to a global minimum corporate tax of at least 15%

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Economy lost 68,000 jobs in May

The losses marked the second consecutive month of employment declines

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U.S. employers added a modest 559k jobs in May

Many companies are struggling to find enough workers, even as the economy rapidly recovers

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GTA home sales down 13% between April and May: TRREB

Home prices continue to rise, however, despite the dip in sales

small business owner during the pandemic

U.S. jobless claims drop for the fifth straight week

The Labor Department reported 385,000 jobless claims last week, a new pandemic low

Federal Reserve survey sees U.S. economy growing at faster pace

Growth accelerated in April and May despite supply disruptions

Closed sign on shop window

CERB payments went to workers hit hard by lockdowns: StatsCan

Visible minorities and Indigenous people were more likely to receive the benefit

  • By: Staff
  • June 2, 2021 June 2, 2021
  • 11:51