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Canadian highlights from TD bank

Canadian highlights from TD bank

Here are some highlights that come from TD Economics about Canada:

-Economic data this week supported the view that the Bank of Canada will remain on hold at next week’s FAD meeting.

-Despite the disappointing headline, the August manufacturing data released this morning fit comfortably with our estimate of real GDP growth of 2.5% annualized in the third quarter, which is significantly stronger than the 1.5% gain the Bank of Canada was expecting back in July.

-Housing data released this week suggests that the market may be losing some steam, and may potentially alleviate some of the concerns related to keeping rates too low for too long. Existing home sales fell 2.1% in September and were only up 0.7% from year ago levels, while average existing home prices rose by just 6.2% year-over-year in September, following six months of near double-digit gains.

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