Canadian Economic Calendar - May 2023

DateStatisticForCurrent MonthPrevious Month
Monday, May 1, 2023Markit Canada Manufacturing PMI 9:30 a.m. AprThe PMI rose to a seasonally adjusted 50.2 in April after hitting 48.6 in March, its lowest level since June 2020. A reading above 50 indicates expansion in the sector.The S&P Global Canada Manufacturing PMI dropped to 48.6 in March 2023 from a seven-month high of 52.4 in February.
Thursday, May 4, 2023IVEY Purchasing Managers Index: 10:00amAprThe index dwindled to 56.8 in April from March's 58.2, and much lower than the 69.9 figure in April 2022The index sprang to 58.2 in March, from February's 51.6, and much lower than the 63.0 level in March 2022.
Thursday, May 4, 2023Canadian International Merchandise Trade: 8:30amMarIn March, Canada's merchandise imports decreased 2.9%, while exports were down 0.7%. As a result, Canada's merchandise trade balance with the world moved from a revised $487 million deficit in February to a $972 million surplus in March.Following strong increases in January, Canadian merchandise exports and imports decreased in February. Exports were down 2.4%, while imports decreased 1.3%. As a result, Canada's merchandise trade surplus with the world narrowed from $1.2 billion in January to $422 million in February.
Friday, May 5, 2023Labour Force Survey: 8:30amAprEmployment rose by 41,000 (+0.2%) in April, all in part-time work.Employment rose by 35,000 (+0.2%) in March, and the unemployment rate held steady at 5.0%.
Wednesday, May 10, 2023Building Permits: 8:30amMarThe total monthly value of building permits in Canada advanced 11.3% to $11.8 billion in March.The total value of building permits in Canada advanced 8.6% to $10.7 billion in February.
Friday, May 12, 2023New Motor Vehicle Sales: 7:30amMar---An estimated 103,771 units were sold in Canada in February 2023, a 5.1% increase from the same month in 2022.
Monday, May 15, 2023Housing Starts: 8:15amAprThe Canadian Mortgage and Housing Corporation showed April housing starts rose 261,559, above expectations by economists Reuters had polled.Housing starts in Canada slipped by 11% over a month earlier to 213,865 units in March 2023, undershooting market expectations of 227,800 units.
Monday, May 15, 2023Wholesale Trade: 8:30amMarWholesale sales excluding petroleum fell 0.1% to $85.6 billion in March. The decrease in sales was mainly led by the miscellaneous subsector and machinery equipment and supplies subsector.Wholesale sales declined 1.7% to $85.6 billion in February. Decreased sales in the motor vehicle and motor vehicle parts and accessories and the food, beverage and tobacco subsectors led the decline.
Monday, May 15, 2023CREAstats - MLS Sales: 8:30amAprNational home sales jumped by double digits on a month-over-month basis. National home sales surged 11.3% month-over-month in April. Actual (not seasonally adjusted) monthly activity came in 19.5% below April 2022.National home sales rose 1.4% month-over-month in March. Actual (not seasonally adjusted) monthly activity came in 34.4% below March 2022.
Tuesday, May 16, 2023Monthly Survey of Manufacturing: 8:30amMarManufacturing sales rose 0.7% in March, mainly on higher sales in the transportation equipment and primary metal industries.Manufacturing sales declined 3.6% in February, mainly on lower sales in the petroleum and coal product, motor vehicle and primary metal industries.
Tuesday, May 16, 2023Consumer Price Index: 8:30amAprThe Consumer Price Index (CPI) rose 4.4% on a year-over-year basis in April, following a 4.3% increase in March. On a seasonally adjusted monthly basis, the CPI rose 0.6% in April.The Consumer Price Index (CPI) rose 4.3% on a year-over-year basis in March, following a 5.2% increase in February. On a seasonally adjusted monthly basis, the CPI rose 0.1% in March.
Wednesday, May 17, 2023Canada's International Transactions in Securities: 8:30amMarForeign investors reduced their exposure to Canadian securities by $19.1 billion in March, the largest divestment since September 2022. Meanwhile, Canadian investors reduced their holdings of foreign securities by $5.6 billion in March 2023, a fourth consecutive monthly divestment.Foreign investment in Canadian securities totalled $4.6 billion in February, led by acquisitions of corporate bonds. Meanwhile, Canadian investors reduced their exposure to foreign securities by $1.6 billion, a third consecutive month of divestment.
Thursday, May 18, 2023New Housing Price Index: 8:30amAprThe national index edged down 0.1% month over month in April. The index has declined six times since August 2022 (at its historical peak)The national index was flat month over month in March, following decrease of 0.2% in February.
Friday, May 19, 2023Retail Trade: 8:30amMarRetail sales decreased 1.4% to $65.3 billion in March.Retail sales decreased 0.2% to $66.3 billion in February
Tuesday, May 23, 2023Industrial Product Price Index: 8:30amAprThe Industrial Product Price Index fell 0.2% month over month in April, and was 3.5% lower than April 2022.The Industrial Product Price Index edged up 0.1% in March from the previous month and fell 1.8% year over year.
Tuesday, May 23, 2023Raw Materials Price Index: 8:30amAprThe Raw Materials Price Index rose 2.9% on a monthly basis in April 2023 and fell 10.8% year over year.The Raw Materials Price Index decreased 1.7% on a monthly basis in March and was down 16.5% year over year.
Thursday, May 25, 2023Payroll Employment, Earnings and Hours: 8:30amMarThe number of employees receiving pay or benefits from their employer—measured as "payroll employees" in the Survey of Employment, Payrolls and Hours—was little changed in March (-9,900).The number of employees receiving pay or benefits from their employer—measured as "payroll employees" in the Survey of Employment, Payrolls and Hours—rose by 62,500 (+0.3%) in February, following an increase of 75,300 (+0.4%) in January.
Wednesday, May 31, 2023GDP: 8:30amQ1Real gross domestic product rose 0.8% in the first quarter, after posting no change in the previous quarter. Real gross domestic product edged up 0.1% in February as both services-producing industries and goods-producing contributed to the increase.
Wednesday, June 7, 2023BoC Interest Rate Decision: 10:00amJune The Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at 4.5%. The Bank is also continuing its policy of quantitative tightening.
  • Markit Canada Manufacturing PMI 9:30 a.m.

    Monday, May 1, 2023

    For: Apr

    Current Month:
    The PMI rose to a seasonally adjusted 50.2 in April after hitting 48.6 in March, its lowest level since June 2020. A reading above 50 indicates expansion in the sector.

    Previous Month:
    The S&P Global Canada Manufacturing PMI dropped to 48.6 in March 2023 from a seven-month high of 52.4 in February.
  • IVEY Purchasing Managers Index: 10:00am

    Thursday, May 4, 2023

    For: Apr

    Current Month:
    The index dwindled to 56.8 in April from March's 58.2, and much lower than the 69.9 figure in April 2022

    Previous Month:
    The index sprang to 58.2 in March, from February's 51.6, and much lower than the 63.0 level in March 2022.
  • Canadian International Merchandise Trade: 8:30am

    Thursday, May 4, 2023

    For: Mar

    Current Month:
    In March, Canada's merchandise imports decreased 2.9%, while exports were down 0.7%. As a result, Canada's merchandise trade balance with the world moved from a revised $487 million deficit in February to a $972 million surplus in March.

    Previous Month:
    Following strong increases in January, Canadian merchandise exports and imports decreased in February. Exports were down 2.4%, while imports decreased 1.3%. As a result, Canada's merchandise trade surplus with the world narrowed from $1.2 billion in January to $422 million in February.
  • Labour Force Survey: 8:30am

    Friday, May 5, 2023

    For: Apr

    Current Month:
    Employment rose by 41,000 (+0.2%) in April, all in part-time work.

    Previous Month:
    Employment rose by 35,000 (+0.2%) in March, and the unemployment rate held steady at 5.0%.
  • Building Permits: 8:30am

    Wednesday, May 10, 2023

    For: Mar

    Current Month:
    The total monthly value of building permits in Canada advanced 11.3% to $11.8 billion in March.

    Previous Month:
    The total value of building permits in Canada advanced 8.6% to $10.7 billion in February.
  • New Motor Vehicle Sales: 7:30am

    Friday, May 12, 2023

    For: Mar

    Current Month:
    ---

    Previous Month:
    An estimated 103,771 units were sold in Canada in February 2023, a 5.1% increase from the same month in 2022.
  • Housing Starts: 8:15am

    Monday, May 15, 2023

    For: Apr

    Current Month:
    The Canadian Mortgage and Housing Corporation showed April housing starts rose 261,559, above expectations by economists Reuters had polled.

    Previous Month:
    Housing starts in Canada slipped by 11% over a month earlier to 213,865 units in March 2023, undershooting market expectations of 227,800 units.
  • Wholesale Trade: 8:30am

    Monday, May 15, 2023

    For: Mar

    Current Month:
    Wholesale sales excluding petroleum fell 0.1% to $85.6 billion in March. The decrease in sales was mainly led by the miscellaneous subsector and machinery equipment and supplies subsector.

    Previous Month:
    Wholesale sales declined 1.7% to $85.6 billion in February. Decreased sales in the motor vehicle and motor vehicle parts and accessories and the food, beverage and tobacco subsectors led the decline.
  • CREAstats - MLS Sales: 8:30am

    Monday, May 15, 2023

    For: Apr

    Current Month:
    National home sales jumped by double digits on a month-over-month basis. National home sales surged 11.3% month-over-month in April. Actual (not seasonally adjusted) monthly activity came in 19.5% below April 2022.

    Previous Month:
    National home sales rose 1.4% month-over-month in March. Actual (not seasonally adjusted) monthly activity came in 34.4% below March 2022.
  • Monthly Survey of Manufacturing: 8:30am

    Tuesday, May 16, 2023

    For: Mar

    Current Month:
    Manufacturing sales rose 0.7% in March, mainly on higher sales in the transportation equipment and primary metal industries.

    Previous Month:
    Manufacturing sales declined 3.6% in February, mainly on lower sales in the petroleum and coal product, motor vehicle and primary metal industries.
  • Consumer Price Index: 8:30am

    Tuesday, May 16, 2023

    For: Apr

    Current Month:
    The Consumer Price Index (CPI) rose 4.4% on a year-over-year basis in April, following a 4.3% increase in March. On a seasonally adjusted monthly basis, the CPI rose 0.6% in April.

    Previous Month:
    The Consumer Price Index (CPI) rose 4.3% on a year-over-year basis in March, following a 5.2% increase in February. On a seasonally adjusted monthly basis, the CPI rose 0.1% in March.
  • Canada's International Transactions in Securities: 8:30am

    Wednesday, May 17, 2023

    For: Mar

    Current Month:
    Foreign investors reduced their exposure to Canadian securities by $19.1 billion in March, the largest divestment since September 2022. Meanwhile, Canadian investors reduced their holdings of foreign securities by $5.6 billion in March 2023, a fourth consecutive monthly divestment.

    Previous Month:
    Foreign investment in Canadian securities totalled $4.6 billion in February, led by acquisitions of corporate bonds. Meanwhile, Canadian investors reduced their exposure to foreign securities by $1.6 billion, a third consecutive month of divestment.
  • New Housing Price Index: 8:30am

    Thursday, May 18, 2023

    For: Apr

    Current Month:
    The national index edged down 0.1% month over month in April. The index has declined six times since August 2022 (at its historical peak)

    Previous Month:
    The national index was flat month over month in March, following decrease of 0.2% in February.
  • Retail Trade: 8:30am

    Friday, May 19, 2023

    For: Mar

    Current Month:
    Retail sales decreased 1.4% to $65.3 billion in March.

    Previous Month:
    Retail sales decreased 0.2% to $66.3 billion in February
  • Industrial Product Price Index: 8:30am

    Tuesday, May 23, 2023

    For: Apr

    Current Month:
    The Industrial Product Price Index fell 0.2% month over month in April, and was 3.5% lower than April 2022.

    Previous Month:
    The Industrial Product Price Index edged up 0.1% in March from the previous month and fell 1.8% year over year.
  • Raw Materials Price Index: 8:30am

    Tuesday, May 23, 2023

    For: Apr

    Current Month:
    The Raw Materials Price Index rose 2.9% on a monthly basis in April 2023 and fell 10.8% year over year.

    Previous Month:
    The Raw Materials Price Index decreased 1.7% on a monthly basis in March and was down 16.5% year over year.
  • Payroll Employment, Earnings and Hours: 8:30am

    Thursday, May 25, 2023

    For: Mar

    Current Month:
    The number of employees receiving pay or benefits from their employer—measured as "payroll employees" in the Survey of Employment, Payrolls and Hours—was little changed in March (-9,900).

    Previous Month:
    The number of employees receiving pay or benefits from their employer—measured as "payroll employees" in the Survey of Employment, Payrolls and Hours—rose by 62,500 (+0.3%) in February, following an increase of 75,300 (+0.4%) in January.
  • GDP: 8:30am

    Wednesday, May 31, 2023

    For: Q1

    Current Month:
    Real gross domestic product rose 0.8% in the first quarter, after posting no change in the previous quarter.

    Previous Month:
    Real gross domestic product edged up 0.1% in February as both services-producing industries and goods-producing contributed to the increase.
  • BoC Interest Rate Decision: 10:00am

    Wednesday, June 7, 2023

    For: June

    Current Month:

    Previous Month:
    The Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at 4.5%. The Bank is also continuing its policy of quantitative tightening.