TD Bank Financial Group

Canadian Highlights President Trump signalled that broad-based tariffs on Canadian exports will come into effect on March 4th. The wait is on to see if they are indeed implemented. If enacted, these tariffs would hit just when the economy is […]

Markets President Trump seriously shook up a growth-focused market with some renewed tariffs threats. A nasty equity sell-off, compounded by tech heavyweight Nvidia, ended up in declines of almost 3% on Wall Street yesterday. It resulted in a break lower

Canadian Highlights Headline inflation for the month of January rose to 1.9% year-on-year, while price pressures built in core inflation measures. Canadian retail sales surged in December, registering its largest monthly gain in nearly three years. Spending fatigue likely set-in

Canadian Highlights Headline inflation for the month of January rose to 1.9% year-on-year, while price pressures built in core inflation measures. Canadian retail sales surged in December, registering its largest monthly gain in nearly three years. Spending fatigue likely set-in

Retail sales rose 2.5% month-over-month (m/m) in December, much stronger than Statistics Canada’s advance estimate of 1.6% growth. In real terms, sales growth accelerated to 2.5% m/m, reflecting robust spending supported by the GST/HST tax break. This is the highest

The ISM Manufacturing Index firmed to 49.3 in December from 48.4 last month, and ahead of the step back to 48.2 expected. The deceleration in the manufacturing sector slowed again, as a broader segment of the industry reported growth. Seven

Canadian Highlights Canada’s economy gained momentum in the latter half of 2024, providing a decent hand-off into the current year. We expect real GDP growth to move closer to a trend-like pace in 2025. The Bank of Canada has more

Canadian economic growth jumped 0.3% month-on-month (m/m) in October, ahead of Statistics Canada’s advanced guidance and consensus expectations. Early estimates from Statistics Canada point to a slight pullback in November GDP (-0.1% m/m). October’s reading was broad-based, with output expanding

Canadian Highlights The Fall Economic Statement (FES) was delivered amid a chaotic week for the federal government. Larger deficits and modest stimulus were features, although the FES is unlikely to change the Bank of Canada’s thinking on policy. Data on

The Federal Reserve Open Market Committee (FOMC) cut the federal funds rate to the 4.25% to 4.50% range and announced it would continue its balance sheet runoff. The Fed maintained its language on growth and inflation, stating “economic activity has