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Latest Insight

Stronger Canadian GDP growth in April to fade in May

Forward Guidance

Canadian and U.S. labour markets to show key signs of weakness

Economic Analysis

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Canadian CPI growth ticked higher in May

June 25, 2024

CPI growth of 2.9% year-over-year from 2.7% in April was the first upside surprise of 2024 following a string of softer readings.

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Canadian household debt payments rose again in Q1

June 13, 2024

Higher interest rates continue to push up household debt payments led by a surge in mortgage payments.

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Featured Insights

Canadian GDP Update

June 28, 2024

There were broad gains in output among industries in April but that momentum quickly faded in May.

Podcast: The 10-Minute Take

June 27, 2024

Economists Nathan Janzen and Claire Fan tackle what productivity is, how it’s measured and why it matters in Canada.

RBC Canadian Inflation Watch

June 25, 2024

Inflation for renters increased faster than inflation for homeowners in May.

RBC Consumer Spending Tracker

June 19, 2024

RBC Economics provides a snapshot and an analysis of Canadian consumer spending.

Proof Point: The Canadian tourism sector is struggling to stage a rebound

June 18, 2024

Demand for Canadian tourism has yet to fully recover from the pandemic and is being impacted by global geopolitical uncertainties.

RBC U.S. Inflation Watch

June 12, 2024

RBC Economics provides a monthly analysis of the key indicators on price trends in the United States.

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Canadian Housing

Homebuyers play the waiting game

June 17, 2024

The spring-long stalemate between buyers and sellers stretched into May. Home resales and prices were little changed nationwide, edging lower...

Canada’s housing markets in a holding pattern

June 7, 2024

Buyers remained in a wait-and-see mode in May with an interest cut looming around the corner.

Influx of new listings help ease supply-demand pressure

May 15, 2024

We saw a healthy number of new listings come to market this April—but even so, buyers remained on the sidelines...

Spring brings sellers out; buyers remain hesitant

May 7, 2024

Sellers are making their way back into the housing market—not everywhere but in some of Canada’s largest cities. Statistical reports...

Mixed start to the spring housing market

April 12, 2024

March brought a mixed bag of activity to Canada’s housing market. Resales continued to linger around February levels at the national level—still softer than activity that took place pre-pandemic.

The Great Rebuild
Seven ways to fix Canada’s housing shortage

April 8, 2024

Too many Canadians are struggling to find a home they can afford—making housing the defining issue of this country’s politics and economics.

See all Canadian Housing Articles

Economy and Markets

Let me see you get low: central banks kick off rate cutting cycle

June 13, 2024

Bank of Canada and ECB both kickstarted the easing cycles in June but neither is expected to race rates to the bottom.

Rate cuts won’t spur immediate rebound in Canada’s economy

June 12, 2024

The global economic growth backdrop has shown signs of improvement, but Canada’s economy continues to underperform.

It's hard to leave (higher rates) when you can't find the door (to lower inflation)

May 9, 2024

Upside inflation surprises year-to-date in the U.S. will keep the Fed on the sidelines for now – we continue to expect the first cut to the fed funds target in December, contingent on both growth and inflation gradually and persistently slowing.

BoC and the Fed, you gotta keep ‘em separated

April 10, 2024

A resilient U.S. economy and signs of reacceleration in inflation look likely to derail Fed plans to cut interest rates by 75 basis points this year – we now look for just one 25 basis point cut in December.

Canadian economic slowdown is not over

March 12, 2024

The Canadian economy is still slowing as the lagged impact of earlier interest rate increases materialize. Gross domestic product edged...

U.S. outperformance continues but no sunshine yet for the Canadian economy

March 12, 2024

Resilience in the U.S. continues to buoy investors’ spirits. Conditions also look to have already bottomed out in the euro area and U.K. In Canada, things are much less upbeat.

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Provincial Outlook and Fiscal Analysis

Rate cuts won’t spur immediate rebound in Canada’s economy

June 12, 2024

The global economic growth backdrop has shown signs of improvement, but Canada’s economy continues to underperform.

Federal Budget 2024: Lack of spending restraint offset by revenue surprise and tax hikes

April 16, 2024

Budget 2024 showed a slightly worse bottom line throughout the federal government’s fiscal plan compared to previous estimates but kept...

Manitoba Budget 2024: Deficit cut in half but debt burden continues to grow

April 3, 2024

The provincial debt burden is expected to be the heaviest on record, reaching 39.1% of gross domestic product by fiscal 2025-26.

Ontario Budget 2024: Balancing priorities, not the books

March 27, 2024

Province anticipates $9.8 billion deficit, scrapping last year’s plan for a surplus ($200 million) in 2024-25. Return to balance has...

Newfoundland and Labrador Budget 2024: Higher spending leads to another year of deficits

March 22, 2024

Newfoundland and Labrador projects a $152 million budget shortfall in 2024-25, scrapping surplus plans for the upcoming fiscal year. Revenues...

Saskatchewan Budget 2024: Record spending ends surpluses

March 21, 2024

A $483 million deficit now replaces the previous billion-dollar surplus projection in 2023-24 after an unexpected surge in crop insurance...

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Forecasts & Data

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