Canada

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Canada Wholesale Sales Rise 0.7% in September, Beating Expectations

Canadian wholesale sales increased 0.7% month over month in September, exceeding expectations for a 0.5% gain.

The result also marked a clear rebound from the previous month’s 1.4% decline.

The stronger-than-expected increase suggests wholesale activity improved heading into the fourth quarter, pointing to firmer underlying demand across the distribution sector.
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Canada Building Permits Fall 4.1% in September, Slightly Worse Than Expected

Canadian building permits fell 4.1% month over month in September, slightly worse than the 4.0% decline expected by economists and reversing the previous month’s 7.6% increase.
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Canada Trade Surplus Widens to C$5.35 Billion in September, Beating Forecasts

Canada’s trade surplus widened to C$5.35 billion in September, exceeding the C$4.80 billion forecast and improving from C$4.95 billion in the previous month.

The stronger-than-expected result points to a more favorable external trade position and suggests that exports continued to provide support to the Canadian economy during the month.
Canada Inflation Cools in September as Core CPI Slows

Canada’s core inflation eased in September, with Core CPI rising 2.2% year over year, down from 2.4% previously.

On a monthly basis, Core CPI was unchanged at 0.0%, compared with a 0.1% increase in the prior month, signaling softer underlying price pressure.

Headline CPI increased 0.1% month over month, below the 0.2% consensus estimate but rebounding from a 0.1% decline previously.

Overall, the data point to a moderation in Canadian inflation pressures. Softer core inflation and a below-consensus monthly headline reading could strengthen expectations that the Bank of Canada has more room to maintain or pursue a less restrictive monetary policy stance, depending on labor-market and broader economic conditions.
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Canada Wholesale Sales Fall 1.6% in August, Slightly Worse Than Expected

Canadian wholesale sales declined 1.6% month over month in August, slightly weaker than the 1.5% contraction expected by economists.
The drop also marked a reversal from the previous month’s 0.4% increase, pointing to softer activity in the wholesale sector.

The result suggests some loss of momentum in goods distribution and business demand heading into the end of the third quarter.
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Canada Building Permits Jump 8.8% in August, Beating Expectations

Canadian building permits rose 8.8% month over month in August, significantly above the 2.9% increase expected by economists.

The gain marked a sharp rebound from the previous month’s 15.8% decline, suggesting renewed momentum in planned construction activity after a weak July.
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Canada Employment Falls Sharply in September as Unemployment Holds at 6.5%

Canada lost 68,300 jobs in September, a much weaker result than the 6,100 increase expected by economists and following a 41,700 decline previously.

Despite the sharp drop in employment, the unemployment rate held at 6.5%, matching expectations but edging up from 6.4% in the prior month.

The data point to continued weakness in the Canadian labor market. Two consecutive months of sizable employment losses suggest hiring momentum has deteriorated, even though the unemployment rate has not yet moved materially higher.
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Canada Posts Larger Trade Surplus While Ivey PMI Signals Slower Growth

Canada’s trade surplus widened sharply to C$4.20 billion in August, well above expectations for C$1.50 billion and up from C$0.79 billion in the previous month.

The stronger-than-expected trade balance suggests net exports provided a more favorable contribution to economic activity during the month, with the surplus expanding substantially beyond market forecasts.

Separately, Canada’s Ivey PMI fell to 58.2 in September from 64.3 in August and missed expectations for 65.2.

Despite the decline, the index remained comfortably above the 50 level that separates expansion from contraction, indicating that Canadian business activity continued to grow, albeit at a slower pace.

Taken together, the data present a mixed picture: external trade improved materially in August, while the September PMI suggests some moderation in domestic economic momentum.
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Canada GDP Stalls in July, August Estimate Points to Modest Rebound

Canada’s economy was unchanged in July, with monthly GDP growth at 0.0%, matching market expectations but slowing from a 0.3% increase previously.

The flat reading suggests economic momentum weakened at the start of the third quarter, with overall activity failing to expand during the month.

An early estimate for August was more encouraging, however, pointing to 0.2% monthly growth. If confirmed, that would suggest the economy regained some momentum after July’s pause.

For markets, the mixed picture may keep expectations for Bank of Canada policy balanced. The weak July reading supports the case for easier policy, while the August rebound estimate suggests the economy is not deteriorating sharply.
Canada Wholesale Sales Fall 1.5% in August

Canada’s wholesale sales declined 1.5% month over month in August, reversing the previous month’s 0.3% increase.
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