Canadian employment rose in line with economist forecasts in April as manufacturers added the most jobs in 11 months, adding to evidence of a modest expansion.
The Canadian dollar strengthened against its U.S. counterpart for the third day as investors seek higher-yielding currencies of commodity-exporting nations.
Canada posted the fourth highest trade deficit on record in November as shipments to Europe fell, suggesting the country’s economy is struggling to emerge from an export-driven slump.
Wholesale prices in the U.S. climbed in February for a second month, reflecting a jump in energy costs that are now dissipating.
Trucking companies may need to put more vehicles on the road to support a recovery in U.S. residential construction, which might send their shares higher.
Canada’s economy lost the most jobs since the 2009 recession during October, led by declines in the manufacturing and construction industries, cementing projections that the recovery is slowing.
Industrial production in the U.S. probably climbed in April for a sixth consecutive month, while homebuilding hovered near recession lows, economists said before reports today.
The cost of living rose in October at the slowest pace in three months, a sign U.S. inflation is in check.
Bank of Canada Governor Mark Carney will offer a rationale today for why his next move may be a rate increase even as he reduces Canada’s growth forecast and investors bet on a cut.
Residential real-estate prices dropped in the 12 months to February by the most in more than a year, putting the market on the verge of eclipsing the nadir reached during the U.S. recession.
"The increase in April suggests the economy still has very little momentum."
- Sal Guatieri on May 10, 2013