Previous Trading Days Events 21 Dec 2023

Monthly retail sales volumes in Canada grew by 0.7 in October but most likely were flat in November. Sales were up in seven of nine subsectors, representing 84.1 of retail trade.

Our tracking for fourth quarter GDP now suggests virtually no growth during the period, which is all the more disappointing given surging population growth, said Desjardins Group economist Tiago Figueiredo.

Source httpswww.reuters.commarketscanadaoctoberretailsalesup07autosseenflatnovember20231221

The U.S. jobless claims figure rose marginally last week remaining settled near 200K. In addition, recent data show that retail sales unexpectedly rose in November, while singlefamily housing starts and building permits scaled 112year highs. Those reports shifted the views of economists, boosting their growth estimates for the fourth quarter.

There is plenty to cheer about the economy, and next year should be even better as the Federal Reserve takes the brakes off the economy now that inflation is going their way, said Christopher Rupkey, chief economist at FWDBONDS in New York.

The U.S. government confirmed that economic growth accelerated in the third quarter. Gross domestic product GDP increased at a 4.9 annualised rate last quarter 3rd, revised down from the previously reported 5.2 pace. The fastest pace of expansion since the fourth quarter of 2021.

This is remarkable progress given that core inflation was at 6 annualised in early 2022, said…