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S&P 5007,736.52+1.79%
NASDAQ 10029,733+3.32%
Shanghai Composite3,873.56+1.34%
Nikkei 22566,132+3.40%
NIFTY 5024,614+0.00%
DAX26,202+0.77%
FTSE 10010,879+0.20%
CAC 408,666.63+0.61%
S&P/TSX Composite35,802+1.63%
KOSPI6,622.11+4.14%
TAIEX44,541+2.72%
Brent Crude$78.89-5.83%
WTI Crude$75.15-6.46%
Gold$4,192+3.93%
Silver$61.01+5.81%
Copper$6.65+2.04%
Aluminum$3,405.25+2.11%
Iron Ore$93.66-4.43%
Soybeans$1,178.25+0.81%
Natural Gas$2.69-3.09%
CanadaIndependent weekly intelligence

The Canadian economy, one lens at a time.

Growth, prices, jobs, Bank of Canada policy, trade, fiscal flows, and business activity for Canada—each category read on its own terms, with consistent multi-year history.

Updated Aug 4, 2026Next briefing Aug 9, 2026

Indicators

11

Charted series

Lenses

8

Economic themes

History

2–3Y

Per-series context

Compare with the US
📈

Growth

🇨🇦

Canada GDP Growth

Jan 2026 · Canada

-0.04 % QoQ
▲ 0.21 vs prev -0.25 % QoQ
Canada's real GDP declined 0.04% quarter over quarter in Q1 2026, a smaller contraction than the 0.25% decline in Q4 2025. Source: OECD via FRED (NAEXKP01CAQ657S).
💹

Inflation

🇨🇦

Canada CPI Inflation

Jun 2026 · Canada

2.8 % YoY
▼ 0.43 vs prev 3.23 % YoY
Canada's headline CPI inflation slowed to 2.80% YoY in June from 3.23% in May. Computed from the Bank of Canada total CPI index (V41690973).
👷

Employment

🇨🇦

Canada Unemployment Rate

Jun 2026 · Canada

6.5 %
▼ 0.1 vs prev 6.6 %
Canada's unemployment rate eased to 6.5% in June from 6.6% in May, a modest improvement as the labour market steadies. Source: Statistics Canada Labour Force Survey (table 14-10-0287, seasonally adjusted).
🇨🇦

Canada Jobs Added

Jun 2026 · Canada

18 K MoM
▼ 70 vs prev 88 K MoM
Canada added 18K jobs in June, a modest gain that cooled sharply from May's stronger print but kept employment growing. Source: Statistics Canada Labour Force Survey (table 14-10-0287, seasonally adjusted).
🛒

Consumption

🇨🇦

Canada Retail Sales

May 2026 · Canada

5.9 % YoY
▲ 2.3 vs prev 3.6 % YoY
Canadian retail sales grew 5.9% YoY in May, accelerating from 3.6% in April. Source: Statistics Canada (table 20-10-0056, seasonally adjusted).
🏦

Rates & Yields

🇨🇦

Canada Policy Rate

Aug 2026 · Canada

2.25 %
▲ 0 vs prev 2.25 %
The Bank of Canada held its target for the overnight rate at 2.25% in June after an extended easing cycle. Source: Bank of Canada (V39079).
🇨🇦

Canada 10Y Yield

Jul 2026 · Canada

3.65 %
▲ 0.27 vs prev 3.38 %
The Government of Canada 10-year benchmark yield rose to 3.60% in July from 3.38% in June. Source: Bank of Canada (GoC 10Y benchmark, daily).
🚢

Trade

🇨🇦

Canada Trade Balance

Jun 2026 · Canada

3.9 CAD B
▲ 0.2 vs prev 3.7 CAD B
Canada posted a C$4.2B merchandise trade surplus in May, widening from April as exports outpaced imports. Source: Statistics Canada (table 12-10-0011, balance-of-payments basis, seasonally adjusted).
🏛️

Fiscal

🇨🇦

Canada Govt Revenues

Jan 2026 · Canada

513.1 CAD B
▲ 9.2 vs prev 503.9 CAD B
Federal government revenue ran at a C$513B annualised pace in Q1 — the fiscal take from a growing economy. Source: Statistics Canada (table 36-10-0477, seasonally adjusted at annual rates).
🌐

PMI

🇨🇦

Canada Manufacturing PMI

Jun 2026 · Canada

53.0 Index
▲ 0.1 vs prev 52.9 Index
The S&P Global Canada Manufacturing PMI edged up to 53.0 in June from 52.9 in May, extending the sector's expansion. Source: S&P Global, June 2026 final release.
🇨🇦

Canada Services PMI

Jun 2026 · Canada

47.1 Index
▼ 3.5 vs prev 50.6 Index
The S&P Global Canada Services PMI fell to 47.1 in June from 50.6 in May, returning to contraction and marking the weakest reading since February. Source: S&P Global, released July 6, 2026.

Economic Commentary

Auto-generated Canada macro notes · Jul 2026

AUTO
🇨🇦

Canada Unemployment Rate declined to 6.5 % in Jun 2026, easing from 6.6 — a positive macro development.

🇨🇦

Canada Jobs Added softened to 18 K MoM in Jun 2026, retreating from 88 — momentum warranted monitoring.

🇨🇦

Canada Policy Rate held steady at 2.25 % in Aug 2026.

🇨🇦

Canada 10Y Yield climbed to 3.65 % in Jul 2026, up 0.27 from 3.38 — a headwind to watch.

🇨🇦

Canada Trade Balance rose to 3.9 CAD B in Jun 2026, up from 3.7 — signalling continued expansion.

🇨🇦

Canada Govt Revenues rose to 513.1 CAD B in Jan 2026, up from 503.9 — signalling continued expansion.

🇨🇦

Canada GDP Growth rose to -0.04 % QoQ in Jan 2026, up from -0.25 — signalling continued expansion.

🇨🇦

Canada CPI Inflation declined to 2.8 % YoY in Jun 2026, easing from 3.23 — a positive macro development.

🇨🇦

Canada Retail Sales rose to 5.9 % YoY in May 2026, up from 3.6 — signalling continued expansion.

🇨🇦

Canada Manufacturing PMI rose to 53.0 Index in Jun 2026, up from 52.9 — signalling continued expansion.

🇨🇦

Canada Services PMI softened to 47.1 Index in Jun 2026, retreating from 50.6 — momentum warranted monitoring.

Commentary is auto-generated from data. Replace with your own analysis in the Blog section.