TORONTO — Five things to watch for in the Canadian business world in the coming week:
October home sales:
The Canadian Real Estate Association is set to release October home sales figures on Monday. The association previously reported that September home sales had edged up on a month-over-month basis for the first time since March, but were down 17.5 per cent from September 2020, when a record was reached for the month.
Wholesale trade numbers:
StatCan is set to release wholesale trade figures for September on Monday. The agency previously reported that wholesale sales fell 2.1 per cent to $70.1 billion in July, as building material and supplies sales plunged due to a drop in prices for softwood lumber. It was the second consecutive overall decline and the largest drop since April 2020.
Nygard back in court:
Canadian fashion mogul Peter Nygard will face extradition proceedings over charges of sex trafficking and racketeering in the United States on Tuesday. Toronto police announced on Oct. 1 that they were charging Nygard with six counts of sexual assault and three counts of forcible confinement dating back to the late 1980s and mid-2000s. He agreed that same day to be extradited to the U.S. to face one charge of sex trafficking.
Loblaw and Metro are scheduled to release third and fourth-quarter results, respectively, on Wednesday. Canada’s major grocers have noted an increase in traffic in their stores in recent quarters, but smaller basket sizes and more muted sales, an indication that people are shopping around more and potentially spending more at restaurants as pandemic measures are lifted..
October inflation numbers:
StatCan is set to release its consumer price index for October on Wednesday. Headline inflation hit 4.4 per cent in September, the fastest annual pace since February 2003. The central bank said recently that it plans to more closely monitor how increasingly frequent and severe weather events could impact the prices consumers pay for goods as part of its mandate to keep inflation in check.
This report by The Canadian Press was first published Nov. 14, 2021.
The Canadian Press