Market Commentary Summary


Canadian Market: May 2012

  • GDP declines in February with decreases in four of the five major goods-producing industries.
  • April marked the second monthly increase in employment and boosted the tally of job gains so far this year to 140,000 or an average monthly gain of 35,000 jobs.
  • The weakness in February retail sales was concentrated in a sizeable 2.4% decline in motor vehicle and parts sales.
  • Following a robust first quarter, Canadian housing starts strengthened even further in April.
  • The improvement in the March merchandise trade surplus reflected the weakness in imports outpacing a decline in exports.
  • The overall CPI rose at a slightly slower than expected 0.4% in March 2012, thereby matching increases in both January and February.