TORONTO — Five things to watch for in the Canadian business world in the coming week:
September housing starts: Canada Mortgage and Housing Corp. is set to release housing starts figures for September on Monday. The Canadian Real Estate Association said Friday that September home sales edged up on a month-over-month basis for the first time since March. Sales amounted to 48,949, their second-highest ever for September and a 0.9 per cent increase from 48,498 in August.
Business outlook survey: The Bank of Canada is expected to release the autumn issue of its Business Outlook Survey and the latest results of its Canadian Survey of Consumer Expectations on Monday. The bank’s summer survey revealed that hiring intentions among businesses were at an all-time high and workers' confidence in landing a job had rebounded nearly to pre-pandemic levels.
Railway earnings: Canadian National Railway Co. and Canadian Pacific Railway Ltd. are scheduled to release their third-quarter results on Tuesday and Wednesday, respectively. CN is acting to suppress a push from activist shareholder TCI Fund Management to overhaul the railway's board of directors and replace chief executive Jean-Jacques Ruest after CN’s failed bid to acquire Kansas City Southern.
September inflation figures: Statistics Canada will release its consumer price index for September on Wednesday. The agency’s index for August showed that prices for furniture, gasoline, food, cars and more leaped higher compared with the same month a year earlier as the consumer price index hit a near two-decade high.
August retail sales: Statistics Canada is set to release retail sales figures for August on Friday. The agency’s report for July revealed that retail sales dropped 0.6 per cent to $55.8 billion as sales at supermarkets and grocery stores fell with more people returning to restaurants and patios.
This report by The Canadian Press was first published Oct. 17, 2021.
The Canadian Press