From a GDP release and major speeches to regional home-sales updates, Canada’s business calendar is packed over the next several days.
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Canada’s business and economic agenda next week is expected to be driven by a mix of policy communication from senior officials, a key national growth data release, and market-moving updates on real estate.
On Monday, Alberta Premier Danielle Smith and Ontario Premier Doug Ford are scheduled to attend an event in Calgary focused on Canada’s economic future, with expectations that they will discuss how Canada builds, transports and sells its energy to the world.
The following day, Statistics Canada will release its report for gross domestic product for July, a data point market participants will be watching closely as the pace of growth and the composition of activity remain central to expectations for the economy.
Earlier, Statistics Canada’s preliminary estimate released last month suggested real GDP was essentially unchanged in July, with increases in the real estate and rental and leasing sector and in professional, scientific and technical services offset by decreases in retail trade and manufacturing.
On Thursday, Bank of Canada senior deputy governor Carolyn Rogers is scheduled to deliver a speech in Victoria, adding another formal signal to financial markets as they assess the path of interest rates.
The Bank of Canada kept its key interest rate on hold at 2.25 per cent earlier this month, but the available calendar information notes that financial markets have raised the odds of a rate hike later this year in recent weeks, making policy commentary from Rogers particularly relevant.
In the housing market, attention is also expected to shift to regional data, with the next set of results for September home sales in multiple markets expected to begin arriving later in the week, including figures for Calgary and Vancouver.
The national housing context heading into those regional releases is set by August figures showing national home sales down 6.9 per cent compared with the same month last year, underscoring that year-over-year comparisons may continue to influence how buyers and sellers interpret the direction of demand.
Finally, housing supply remains part of the federal economic conversation next week as Ana Bailão, the head of Build Canada Homes—described as a Crown corporation established to help increase the availability of affordable housing—is scheduled to speak at the Empire Club in Toronto on Friday.
Bailão’s appearance comes as increasing the supply of affordable homes is identified as a key priority for the federal government, situating the speech within broader policy efforts affecting housing availability and affordability across the country.
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