TD Bank Financial Group

U.S. Highlights Progress on the inflation front appears to have stalled at the end of the third quarter, as core CPI inflation ticked up, albeit modestly, by 0.1 percentage point to 3.3% year-on-year in September. Initial jobless claims surged higher […]

U.S. Highlights The U.S. labor market perked up in September as job gains beat expectations, the unemployment rate ticked down and annual wage gains edged up. The economic outlook, however, has been buffeted by significant disruptions, namely Hurricane Helene and

Non-farm employment rose by 254k in September, well ahead of the consensus forecast calling for a gain of 150k. Job gains in the two prior months were revised up by 72k. Over the past three months, payroll gains have averaged

The ISM Services index stepped up in September, registering 54.9, up from 51.5 in August and well ahead of the 51.7 print expected. This is the third consecutive month of improvement and the strongest print since February 2023. Twelve industries

The ISM Manufacturing Index was unchanged in September, holding at 47.2 and a smidge below expectations for a 47.5 print. As in July and August, only five of 18 industries reported growth for the month, but as only one of

U.S. Highlights The Federal Reserve’s preferred inflation metric, the core PCE index, continued to cool in August with the 3- and 6-month annualized trends converging closer to the Fed’s 2% target. Federal Reserve officials who spoke this week noted that

The Canadian economy grew by 0.2% month-on-month (m/m) in July after June’s flat reading. This print landed ahead of Statistics Canada’s advanced guidance and consensus expectations. Early guidance from Statistics Canada points to no growth in August. May’s reading was