Economic indicators are commonly used to gauge the performance of an economy. The relative importance of specific indicators varies. Housing indicators are closely watched when the housing market is booming or slumping. Here are ten economic indicators used to analyze Canada, the world’s eighth-largest economy.

1. GDP

Statistics Canada, a national agency, publishes growth statistics on the Canadian economy monthly and quarterly. The report shows澳洲幸运5官方💙开奖结果体彩网: the real gross domestic product (GDP) for the overall economy and is broken down by industry. It is an accurate monthly/quarterly status report on the Canadian economy and each industry within it.

2. Employment Change and Unemployment

Data on the Canadian employment market, such as the net change in 澳洲幸运5官方开奖结果体彩网:employment, the unemployment rate, and the participation rate, is contained in the monthly Labour Force Survey released by Statistics Canada. The report provides information about the Canadian job market, categorized by demographic, class of worker (private sector employee, public sector employee, self-employed), industry, and province.

3. CPI

Statistics Canada releases a monthly report on the 澳洲幸运5官方开奖结果体彩网:consumer price index (CPI) that measures inflation at the consumer level. The index is constructed by comparing changes over time for a fixed basket of goods and services purchased by consumers. The report shows the change in CPI monthly, over the preceding 12 months, and on an overall basis, excluding food and energy prices.

4. International Merchandise Trade

This monthly report from Statistics Canada shows the nation’s imports and exports and the net merchandise trade surplus or deficit. The report also compares the most current data with the preceding month. Exports and imports are shown by product category and for Canada’s top 10 trading partners.

5. House Prices

The Teranet and the National Bank of Canada House Price Index assess home prices in Canada’s six metropolitan areas. A monthly report notes changes over the past 12 months and monthly and 12-month changes in Canadian regions.The Canadian Real Estate Association (CREA) records the number of home sales processed through the MLS (Multiple Listing Service) of real estate boards and associations and shows the change in home sales across Canada, as well as for major markets, from month to month.

6. Housing Starts

The Canada Mortgage and Housing Corporation (CMHC) issues a monthly report showing the previous month's new residential construction activity. The data is presented by region, province, census metropolitan area, and dwelling type. The indicator, composed of housing starts and completions, gauges the state of the Canadian housing market.

7. Building Permits

The building permits survey conducted monthly by Statistics Canada collects data on the value of permits issued by Canadian municipalities for residential and non-residential buildings and the number of residential dwellings authorized. Since building permit issuance is one of the very first steps in the construction process, the aggregate building data are beneficial as a leading indicator for assessing the state of the construction industry.

8. Consumer Confidence Index

The Conference Board of Canada's Index of Consumer Confidence measures consumers' levels of optimism in the state of the economy. It is a crucial indicator of near-term sales for consumer product companies in Canada and an indicator for the broad economy since consumer demand comprises such a significant part of it.

The index is constructed based on responses to four questions by a random sampling of Canadian households. Survey participants are asked how they view their households' current and expected financial positions, their short-term employment outlook, and their likelihood to make a major purchase.

9. Ivey Purchasing Managers Index

Prepared by the Ivey Business School at Western University, the Ivey PMI measures the monthly variation in economic activity, as indicated by a panel of purchasing managers across Canada. It is based on responses by these purchasing managers to a single question: "Were your purchases last month in dollars higher, the same, or lower than in the previous month?"

An index reading below 50 shows a decrease; a reading above 50 shows an increase. Panel members indicate changes in their organization's activity over five categories: purchases, employment, inventories, supplier deliveries, and prices.

10. Retail Sales

Statistics Canada releases a monthly report on 澳洲幸运5官方开奖结果体彩网:retail sales activity across Canada, with changes shown month-over-month and year-over-year. The headline number provides the percentage change in national retail sales on a dollar basis; the percentage change in volume terms is also shown. The retail sales figures are listed by industry and for each province or territory, with insight into Canadian consumer spending.

The Bottom Line

Ten economic indicators show key aspects of Canada's economy: consumer spending, housing, manufacturing, employment, inflation, external trade, and economic growth. Analyzed together, they provide a comprehensive picture of the state of the Canadian economy.