Canada Mortgage and Housing Corp. is expected to release its latest reading on housing starts on Friday when it publishes the figures for February. Work continues at a new housing development in Belleville, Ont., on Friday, March 1, 2024. THE CANADIAN PRESS/Chris Young
Five key developments to monitor in the Canadian business landscape over the upcoming week:
- Household Debt: Statistics Canada is set to unveil its national balance sheet and financial flow accounts data for the fourth quarter of 2023 on Wednesday. This release will provide insights into the household-debt-to-income ratio amid ongoing pressure from high interest rates impacting Canadians' finances.
- Transat Earnings: Travel firm Transat AT Inc. is scheduled to announce its latest quarterly results on Thursday, accompanied by a conference call with investors and financial analysts. Last month, Air Transat flight attendants ratified a new contract, hailed by the Canadian Union of Public Employees as setting industry-leading pay standards.
- Empire Earnings: Empire Co. Ltd. will unveil its third-quarter financial results on Thursday, followed by discussions with financial analysts. Metro and Loblaw, Empire's competitors, recently highlighted robust sales growth driven by their discount stores, reflecting consumer demand for cost-effective options.
- Economic Data: Throughout the week, Statistics Canada will release additional economic indicators for January. Thursday will see the release of the monthly manufacturing survey, followed by wholesale trade numbers on Friday, offering further insights into economic performance.
- Housing Starts: Canada Mortgage and Housing Corp. is expected to publish its latest data on housing starts for February on Friday. In January, the annual pace of housing starts declined by 10 percent compared to December, primarily due to reduced activity in new multi-unit projects like apartments and condominiums.
These developments offer valuable insights into various sectors of the Canadian economy and are closely monitored by investors, analysts, and policymakers alike.
