Waterloo Region Record: Consumer spending down in Waterloo Region, economist warns of possible ‘bigger slowdown’
Compared to June, consumer spending dropped by 5.7 per cent in the region in July.
Bloomberg: Bank of Canada Holds Key Interest Rate at 5%, Signals It’s Done Hiking
“It’s a new year with the same challenges. One thing is clear though, interest rates and inflation will be coming down in 2024,” Andrew DiCapua, senior economist at the Canadian Chamber of Commerce, said by email.
The Star: Canada lost 17,000 jobs in May, bringing interest rate hike into question
We shouldn’t overreact to one month of data, but it’s now clear that momentum in Canada’s labour market has faded since January’s blockbuster hiring binge. Will today’s release mark a turning point, when the strong-and-long run for Canada’s labour market finally came to an end?”