Five things to watch for in Canadian business in the coming week
The Canadian Real Estate Association is set to release September home sales figures on Friday.
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TORONTO — Five things to watch for in the Canadian business world in the coming week:
New Alberta premier sworn in
Danielle Smith will be sworn in Tuesday, replacing outgoing Premier Jason Kenney after being named leader of the United Conservative Party (UCP) on Oct. 6. Two of Smith’s promises include challenging the federal carbon tax and a plan for an Alberta sovereignty act. Energy policy will need to address oil, natural gas, hydrogen, carbon capture and nuclear energy.
Aritzia earnings
The Canadian fashion retailer will report its second quarter earnings after the bell on Wednesday. In the company’s first quarter, profit surged 86 per cent to $33.3 million on a big jump in revenue.
Home sales
The Canadian Real Estate Association is set to release September home sales figures on Friday. Last month CREA cut its forecast for home sales for the year and lowered its expectations for price growth. The updated forecast came as CREA revealed seasonally-adjusted home sales in August totalled 36,914, down one per cent compared with July. The actual number of home sales amounted to 38,368, almost 25 per cent lower than August last year.
Manufacturing data
Statistics Canada will release its monthly survey on manufacturing for August on Friday. Manufacturing sales fell 0.9 per cent to $71.6 billion in July, the third consecutive monthly move lower. The agency said manufacturing sales were down in 12 of the 21 industries it tracks. The decline was led by the primary metal industry, which fell 9.9 per cent to $5.6 billion in July as both prices and volumes fell.
Wholesale trade
Statistics Canada will also release its figures for wholesale trade in August on Friday. Wholesale sales fell 0.6 per cent in July to $80.2 billion, led by a drop in the personal and household goods subsector. The agency said sales fell in five of seven subsectors, which represented 63 per cent of wholesale sales.
This report by The Canadian Press was first published Oct. 9, 2022.
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