Skip to main content
RBC Economics

Latest Insight

U.S. GDP growth accelerated in Q2 but PCE inflation moderated

Forward Guidance

Canadian GDP growth to slow, U.S. Fed to stand pat

Economic Analysis

See all Economic Updates

Business Outlook Survey flags slowing inflation

July 15, 2024

The survey broadly confirmed that Canada’s economy continues to soften and inflation is most likely to drift lower.

Read Report

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.

Read Report

Featured Insights

U.S. GDP Update

July 25, 2024

In the second quarter of 2024, U.S. GDP expanded at an annualized rate of 2.8%, marking an acceleration from the 1.4% growth observed in the previous quarter. Consumer spending on both goods and services...

Podcast: The 10-Minute Take

July 25, 2024

Claire Fan and Carrie Freestone dig into what’s behind Canada’s rising unemployment if it’s not immigration.

Bank of Canada follows up with a second rate cut

July 24, 2024

After a first interest rate cut in June, the Bank of Canada again lowered its key overnight rate by 25 basis points to 4.5%.

Canada’s economy might not be in recession but it feels like one

July 17, 2024

Real per person output has declined in six of the past seven consecutive quarters and unemployment has risen at the same time.

RBC Canadian Inflation Watch

July 16, 2024

June’s CPI was a small relief after an upside surprise in May with headline inflation coming in within expectations.

RBC Consumer Spending Tracker

July 11, 2024

Warmer temperatures failed to ignite Canadian consumer spending in Q2.

See all Featured Insights Articles

Canadian Housing

Rate cut gives small boost to Canada’s housing market

July 12, 2024

The first Bank of Canada interest rate cut in four years brought some energy to Canada’s housing market in June.

Inventories rebuilding fast in largest housing markets

July 8, 2024

Transactions increased across the board with more buyers coming to the housing market. But buying was far from enough to absorb the new inventory that’s been accumulating for months.

Is the dip in ownership costs a turning point for housing affordability?

July 4, 2024

Slight drops in interest rates and home prices lowered the costs of owning a home in Canada in the first quarter

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...

See all Canadian Housing Articles

Economy and Markets

At Last: U.S. economy is showing signs of softening

July 11, 2024

We now expect the Fed to cut rates in September—earlier than our prior December assumption—with a gradual easing cycle to follow.

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...

See all Economy & Market Articles

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...

See all Provincial Outlooks & Fiscal Reports

Forecasts & Data

Get Email Updates from RBC Economics

As a subscriber to our publications, you will receive an email alert with a link as soon as a publication goes live on our website.

Sign Up to get email updates