Monthly Economic Letter
Here you'll find concise data and clear analysis prepared by our team of economists, including interest rates, economic growth, business credit conditions, and more.
In the current issue:
Canadian consumers: is the last pillar still standing?
Canada’s growth is holding—but just barely. With GDP expected to grow by only 1.0% in 2026, most traditional drivers are running out of steam. In the current context, one player stands out: the Canadian consumer. Year in and year out, household spending accounts for about 60% of GDP and is the main driver of growth.
In 2026, consumption is not only the main contributor to growth, but essentially the only one. The margin for error is narrowing, and spending is being reallocated. Businesses that adapt to this more selective and segmented consumer environment will be best positioned to protect growth. Read more
Archives
- April 2026—Are rising costs here to stay?
- March 2026—Soaring oil prices: What do they mean for the Canadian economy and entrepreneurs?
- February 2026—Gold volatility: What it says about the economy...and what it means for Canadian entrepreneurs
- January 2026—A year that promises to be eventful
- December 2025—The economy in 2026: Make or break time for Canada?
- November 2025—The Canadian dollar is set to remain weak
- October 2025—Tariffs: Current and future impacts on the Canadian economy
- September 2025—Canada’s labour market hits a speed bump
- July 2025—Should we worry about the One Big Beautiful Bill?
- June 2025—Where are interest rates headed?
- May 2025—Canada’s real estate market sails back into troubled waters
- April 2025—90-day pause on yet another layer of tariffs—what does it mean for Canada, the economy and your business?