Economic Quick Take Series
Stay informed with our Economic Quick Take Series—clear, usable analysis of the data shaping Canada’s economy. From inflation and jobs to industry trends, trade, and overall growth, our economists translate complex indicators into insights leaders can rely on.
Latest Economic Quick Takes
Canada’s Inflation Rate Remained Steady in November
In November, the Consumer Price Index (CPI) rose by 2.2 per cent (y/y). This was the same as October’s 2.2 per cent (y/y) increase. Gasoline prices rose by 1.8 per…
Trade Surplus With the U.S. Narrows Significantly in October
Canada’s merchandise exports increased 2.1 per cent (month-over-month) in October 2025. Meanwhile, imports were up 3.4 per cent. As a result, Canada’s merchandise trade balance moved from a slight surplus…
Employment Stays Resilient, but Losing Steam
Employment rose by just 8,200 in December (0.0 per cent). The unemployment rate rose to 6.8 per cent as the labour force participation rate edged up to 65.4 per cent….
Economic Quick Takes by Series
See what’s shaping prices in Canada. From shifting energy costs to evolving policy environments, discover how price fluctuations are affecting households and the broader economy, with data-driven insights into the forces driving inflation.
CPI Growth Jumps in February as GST Holiday Expires
In February, the Consumer Price Index (CPI) rose by 2.6 per cent (y/y). This was higher than January’s 1.9 per cent (y/y) increase. Gasoline prices rose by 0.6 per cent…
Despite GST Holiday Wrap-Up, Canada’s CPI Decelerated in March
In March, the Consumer Price Index (CPI) rose by 2.3 per cent (y/y). This was lower than February’s 2.6 per cent (y/y) increase. Gasoline prices fell by 1.8 per cent…
Removal of Canada’s Carbon Tax Knocks CPI Growth Down
In April, the Consumer Price Index (CPI) rose by 1.7 per cent (y/y). This was lower than March’s 2.3 per cent (y/y) increase. Gasoline prices fell by 10.2 per cent…
CPI Growth Picks up in June as Some Tariff Impacts Appear
In June, the Consumer Price Index (CPI) rose by 1.9 per cent (y/y). This was higher than May’s 1.7 per cent (y/y) increase. Gasoline prices fell by 0.7 per cent…
CPI Growth Slowed in July Despite Trade Conflict
In July, the Consumer Price Index (CPI) rose by 1.7 per cent (y/y). This was lower than June’s 1.9 per cent (y/y) increase. Gasoline prices fell by 0.7 per cent…
In August, Carbon Tax Repeal Continued to Remove Fuel from CPI Growth
In August, the Consumer Price Index (CPI) rose by 1.9 per cent (y/y). This was higher than July’s 1.7 per cent (y/y) increase. Gasoline prices rose by 1.4 per cent…
Pace of CPI Growth, Core Inflation Picked Up in September
In September, the Consumer Price Index (CPI) rose by 2.4 per cent (y/y). This was higher than August’s 1.9 per cent (y/y) increase. Gasoline prices rose by 1.9 per cent…
Canadian Inflation Cools in October
In October, the Consumer Price Index (CPI) rose by 2.2 per cent (y/y). This was lower than September’s 2.4 per cent (y/y) increase. Gasoline prices fell by 4.8 per cent…
Canada’s Inflation Rate Remained Steady in November
In November, the Consumer Price Index (CPI) rose by 2.2 per cent (y/y). This was the same as October’s 2.2 per cent (y/y) increase. Gasoline prices rose by 1.8 per…
Pinpoint the sectors driving Canada’s growth. Our industry-level insights highlight key production trends and how sectoral shifts are influencing Canada’s economic trajectory. We also release a quarterly GDP-by-expenditure analysis that complements our industry-focused results.
Economy Sees Modest Growth in Third Quarter, Propelled by Households and Government
Real gross domestic product (GDP) increased slightly by 0.1 per cent in September, after it being essentially unchanged in August. On an annualized basis, real GDP rose by 1.0 per…
Economic Growth Declines in November
Real gross domestic product decreased 0.2 per cent in November, the largest monthly contraction since December 2023. Overall, there were broad based declines as 13 of 20 sectors contracted in…
Economy Sees Better End to the Year
Real gross domestic product (GDP) increased 0.2 per cent in December, rebounding after a decline in November. For the fourth quarter, real GDP rose by 0.6 per cent (2.x per…
Real GDP Starts the Year Off Strong
Real gross domestic product (GDP) was up 0.4 per cent in January following an increase of 0.3 per cent in December. Goods producing sectors contributed the most to the increase,…
Economy Weakens in February
Real gross domestic product (GDP) was down 0.2 per cent month-over-month in February following an increase of 0.4 per cent in January. Goods producing sectors contributed the most to the…
Canadian Economy Showing Resilience in the Face of Uncertainty
Real gross domestic product (GDP) was up 0.1 per cent month-over-month in March following a 0.2 per cent contraction in February. For the first quarter as a whole, real GDP…
Economy Slightly Contracts in April
Real gross domestic product (GDP) was down 0.1 per cent month-over-month in April following an increase of 0.2 per cent in March. The losses were concentrated in the goods producing…
GDP Stalls as Oil Slicks and Retail Slips
Real gross domestic product edged down 0.1 per cent in May 2025, following a 0.1 per cent decline in April. Goods-producing industries declined in May, with mining, quarrying, and oil…
Canadian Economy Contracts in the Second Quarter
Real gross domestic product (GDP) decreased 0.1 per cent in June, a third monthly decline in a row. For the second quarter, real GDP fell by 0.4 per cent (1.6…
Economy Rebounds Partially in July
Real gross domestic product (GDP) increased 0.2 per cent month-over-month in July following a decrease of 0.1 per cent in June. This was the first increase in four months. The…
Trick, No Treat: Canadian Economy Shrinks in August
Real gross domestic product (GDP) decreased 0.3 per cent month-over-month in August, mostly offsetting the increase of 0.3 per cent in July. This was the fourth decrease in five months….
Economy Expands but Remains on Fragile Footing
Real gross domestic product (GDP) decreased 0.2 per cent in September, offsetting the 0.1 per cent decline in August. For the third quarter as a whole, real GDP rose 0.6…
Gain insight into how Bank of Canada decisions influence borrowing, investment, and spending. Understand the economic rationale behind rate changes and their implications for businesses, households, and markets.
The Bank of Canada Keeps Rates Steady for Another Announcement
The Bank of Canada held its target for the overnight rate at 5 per cent, with the Bank rate at 5.25 per cent, and the deposit rate at 5 per…
The Bank of Canada Cuts Rates for the First Time Since March 2020
The Bank of Canada cut its target for the overnight rate to 4.75 per cent, the Bank rate to 5 per cent, and the deposit rate to 4.75 per cent….
The Bank of Canada Cuts Rates Further in September
The Bank of Canada cut its target for the overnight rate to 4.25 per cent, with the Bank rate to 4.5 per cent, and the deposit rate to 4.25 per…
The Bank of Canada Trims Another 50 Basis Points From Its Policy Rate
The Bank of Canada cut its target for the overnight rate to 3.75 per cent, the Bank rate to 4.0 per cent, and the deposit rate to 3.75 per cent….
The Bank of Canada Trims Another 50 Basis Points to End the Year
The Bank of Canada cut its target for the overnight rate to 3.25 per cent, the Bank rate to 3.75 per cent, and the deposit rate to 3.25 per cent….
Two Announcements, Two Cuts to Start 2025
The Bank of Canada Cuts 25 Basis Points in its second announcement of the year. The Bank of Canada lowered its target for the overnight rate to 2.75 per cent,…
Rates Unchanged as Bank Navigates Uncertainty
The Bank of Canada holds rates. The Bank of Canada held its target for the overnight rate at 2.75 per cent, with the Bank rate at 3.0 per cent, and…
Rates Unchanged as Bank Treads Carefully
The Bank of Canada holds rates. The Bank of Canada held its target for the overnight rate at 2.75 per cent, the Bank rate at 3.0 per cent, and the…
Bank Stays the Course as Trade Policy Clouds the Road Ahead
The Bank of Canada left the overnight rate unchanged at 2.75 per cent with the Bank Rate at 3.00 per cent and the deposit rate at 2.70 per cent, citing…
Bank of Canada Cuts Rates Amid Cooling Economy
The Bank of Canada reduced the target for the overnight rate to 2.5 per cent, with the Bank Rate at 2.75 per cent and the deposit rate at 2.45 per…
Bank of Canada Cuts Policy Rate as Economy Continues to Adapt to Trade Shock
The Bank of Canada reduced its target for the overnight rate by 25 basis points to 2.25 per cent; the Bank Rate is 2.5 per cent and the deposit rate…
Bank of Canada Maintains 2.25 Per Cent Rate Facing Global Instability
The central bank kept the policy interest rate at 2.25 per cent. The Bank Rate stands at 2.5 per cent, and the deposit rate remains at 2.20 per cent. While…
Get a clear view of Canada’s labour market. Track employment gains and losses, wage changes, and workforce momentum to understand how labour dynamics are shaping business performance and the broader economy.
Positive Job Print Ends Rollercoaster Week
In January, employment in Canada increased by 76,000, the third consecutive monthly increase. There were notable gains among youth aged 15 to 24 years. The labour force increased by 62,000…
Employment Stable in February Amid Looming Trade War
In February, employment in Canada was largely unchanged, with a modest increase of 1,100 jobs. The labour force participation rate declined to 65.3 per cent, while the unemployment rate remained…
Labour Market Stuck in First Gear
In April, employment in Canada grew by 7,400 jobs. Meanwhile, the labour force participation rate edged up by 0.1 points to reach 65.3 per cent, while the unemployment rate rose…
Minimal Employment Gains and Higher Unemployment in May
In May, employment in Canada was virtually unchanged, rising by just 8,800 jobs. The labour force participation rate held steady at 65.3 per cent, while the unemployment rate increased to…
June Job Gains Offer Relief … For Now
In June, employment in Canada rose by 83,000 jobs (0.4 per cent). The labour force participation rate held steady at 65.4 per cent, while the unemployment rate declined slightly from…
Labour Market Momentum Fades as U.S.–Canada Trade Conflict Persists
Employment in July fell by 41,000 (0.2 per cent). The labour force participation rate edged down to 65.2 per cent, while the unemployment rate held steady at 6.9 per cent….
Labour Market Losses Deepen as U.S.–Canada Trade Uncertainty Continues
Employment fell by a net 66,000 (-0.3 per cent) in August. The labour force participation rate edged down slightly to 65.1 per cent, while the unemployment rate increased to 7.1…
Employment Rebounds in September, but Broader Labour Trends Remain Flat
Employment rose by 60,000 in September (0.3 per cent). The labour force participation rate edged up to 65.2 per cent, while the unemployment rate held steady at 7.1 per cent….
Labour Market Surprises in October
Employment rose by 67,000 in October (0.3 per cent). The labour force participation rate edged up to 65.3 per cent, while the unemployment rate declined to 6.9 per cent. On…
Labour Market Recovery in Motion
Employment rose by 54,000 in November (0.3 per cent). The labour force participation rate edged down to 65.1 per cent, while the unemployment rate declined to 6.5 per cent. On…
Employment Stays Resilient, but Losing Steam
Employment rose by just 8,200 in December (0.0 per cent). The unemployment rate rose to 6.8 per cent as the labour force participation rate edged up to 65.4 per cent….
Track the pulse of Canada’s manufacturing sector. Our monthly analysis highlights shifts in production, new orders, and inventory levels, revealing how currency movements, global demand, and supply-chain pressures shape performance across key industries.
Motor Vehicles Shuttled Manufacturing Sales Higher in January
Canadian manufacturing sales grew by 0.2 per cent (m/m) in January. This was weaker than Statistics Canada’s flash estimate, which anticipated a 0.4 per cent gain. After accounting for price…
Manufacturing Sales Buoyed by Higher Petroleum and Coal Prices in February
Canadian manufacturing sales grew by 0.7 per cent (m/m) in February. This was in line with Statistics Canada’s flash estimate. After accounting for price effects, real manufacturing sales volumes rose…
Falling Petroleum and Coal Sales Burned Canadian Manufacturing Sales in March
Canadian manufacturing sales fell by 2.1 per cent (m/m) in March. This was a slightly shallower decline than Statistics Canada’s flash estimate which called for a 2.8 per cent drop….
Higher Sales of Motor Vehicles Offset Falling Sales of Aerospace Products in April
Canadian manufacturing sales grew by 1.1 per cent (m/m) in April. This was a slightly weaker gain than Statistics Canada’s flash estimate which called for a 1.2 per cent increase….
Aerospace Products Lifted Manufacturing Sales in May
Canadian manufacturing sales grew by 0.4 per cent (m/m) in May. This was a slightly higher gain than Statistics Canada’s flash estimate which called for a 0.2 per cent increase….
Petroleum and Coal Shipments Stoked Manufacturing Sales in July
Canadian manufacturing sales grew by 1.4 per cent (m/m) in July. This was stronger than anticipated in Statistics Canada’s flash estimate which called for a 1.1 per cent increase. After…
Manufacturing Sales Drop in August though September’s PMI Picked Up
Canadian manufacturing sales fell by 1.3 per cent (m/m) in August. This was a slightly more modest decline than anticipated in Statistics Canada’s flash estimate which called for a 1.5…
Manufacturing Sales Drop in September Leads to Fourth Consecutive Quarterly Decline
Canadian manufacturing sales fell by 0.5 per cent (m/m) in September. This was a slightly more modest decline than anticipated in Statistics Canada’s flash estimate which called for a 0.8…
Manufacturing Sales Soar in October
Canadian manufacturing sales rose 2.1 per cent (m/m) in October. This was higher than anticipated in Statistics Canada’s flash estimate which called for a 1.3 per cent increase. After accounting…
Manufacturing Sales Rose in November as Weaker Loonie Supported Exporters
Canadian manufacturing sales rose 0.8 per cent (m/m) in November. This was higher than anticipated in Statistics Canada’s flash estimate which called for a 0.5 per cent increase. After accounting…
Pace of Manufacturing Sales Growth Eased in December
Canadian manufacturing sales rose 0.3 per cent (m/m) in December. This was lower than anticipated in Statistics Canada’s flash estimate which called for a 0.6 per cent increase. After accounting…
Analyze Canada’s trade flows to understand changes in imports, exports, and the trade balance. Explore how global demand, commodity prices, and policy shifts affect the country’s economic position and competitiveness.
Trade Deficit Narrows to $1.3 Billion in September
Canada’s merchandise exports fell by 0.1 per cent (month-over-month) in September. Meanwhile, imports fell 0.4 per cent. Consequently, Canada’s merchandise trade deficit narrowed from $1.5 billion in August to $1.3…
Trade Deficit Narrows to $924 Million in October
Canada’s merchandise exports fell by 1.1 per cent (month-over-month) in October. At the same time, imports rose 0.5 per cent. Consequently, Canada’s merchandise trade deficit narrowed from $1.3 billion in…
Trade Deficit Narrows to $323 Million in November
Canada’s merchandise exports rose by 2.2 per cent (month-over-month) in November. At the same time, imports rose 1.8 per cent. Consequently, Canada’s merchandise trade deficit narrowed from $544 million in…
Trade Surplus Widens in January Amid Tariff Threats
Canada’s merchandise exports rose by 5.5 per cent (month-over-month) in January. At the same time, imports rose 2.3 per cent. Consequently, Canada’s merchandise trade surplus widened from $1.7 billion in…
Trade Balance Narrows to $506 Million in March
Canada’s merchandise exports fell by 0.2 per cent (month-over-month) in March. At the same time, imports were down 1.5 per cent. As a result, Canada’s merchandise trade deficit narrowed from…
Trade Balance Slumps to an All-time Low
Canada’s merchandise exports fell by 10.8 per cent (month-over-month) in April. Meanwhile, imports were down 3.5 per cent. As a result, Canada’s merchandise trade deficit widened from $2.3 billion in…
Trade Deficit Narrows to $5.9 Billion in May
Canada’s merchandise exports were up by 1.1 per cent (month-over-month) in May. Meanwhile, imports decreased by 1.6 per cent. As a result, Canada’s merchandise trade deficit narrowed from a record…
Trade Deficit Widens to $5.9 billion in June
Canada’s merchandise exports were up by 0.9 per cent (month-over-month) in June. Meanwhile, imports rose by 1.4 per cent. As a result, Canada’s merchandise trade deficit widened from $5.5 billion…
Trade Deficit Narrows to $4.9 Billion in July
Canada’s merchandise exports were up by 0.9 per cent (month-over-month) in July. Meanwhile, imports fell by 0.7 per cent. As a result, Canada’s merchandise trade deficit narrowed from $6.0 billion…
Gold Slump Behind Latest Trade Balance Decline
Canada’s merchandise exports fell 3.0 per cent (month-over-month) in August. Meanwhile, imports were up by 0.9 per cent. As a result, Canada’s merchandise trade deficit widened from $3.8 billion in…
Gold Shines in Canada’s Trade Turnaround
Canada’s merchandise exports increased 6.3 per cent (month-over-month) in September. Meanwhile, imports were down 4.1 per cent. As a result, Canada’s merchandise trade balance moved from a deficit of $6.4…
Trade Surplus With the U.S. Narrows Significantly in October
Canada’s merchandise exports increased 2.1 per cent (month-over-month) in October 2025. Meanwhile, imports were up 3.4 per cent. As a result, Canada’s merchandise trade balance moved from a slight surplus…
Methodology
The research in this series uses the following methodologies to analyze complex economic challenges:
- Policy evaluation: Examines the potential impacts of changes in immigration, trade, or fiscal policy under various scenarios.
- Regional and sectoral analysis: Explores how local economies, smaller cities, and specific industries respond to structural shifts.
- Evidence-based insights: Provides recommendations to inform strategic decision-making for governments, institutions, and businesses seeking inclusive and sustainable economic growth.
