Canada: Factory orders in focus in a quiet week - NBF

In Canada, a relatively quiet week will still provide some valuable information about economic activity in late Q3 and early Q4, according to the research team at National Bank Financial.

Key Quotes

“If a decline in exports of factory goods is any guide, manufacturing shipments may have retreated for a second consecutive month in September. This should not be overly concerning as these back-to-back drops would come after healthy increases in June (+1.3%) and July (+1.2%).”

“In fact, a 0.5% contraction in September would still translate into a healthy 8.5% annualized increase in Q3 as a whole. Information on the state of the housing market in October will also be available with the release of the the Teranet-National Bank Composite Home Price Index® and existing home sales.”