All told, a fairly strong reading that will only buttress the Bank of Canada's case for remaining hawkish.
More Quotes from Avery Shenfeld:
Looking only at 'affected areas' could understate the storm impacts, due to linkages between ports and more distant facilities.... we know that jobless claims have fallen off sharply as we moved past the storm impacts, another hint of underlying labor market vitality.Avery Shenfeld
In Canada, CPI inflation will be everywhere in energy, and nowhere in anything else, mirroring what we saw in the U.S. figures for September.
Avery Shenfeld
Given all the leverage that the household sector has built up, their confidence in rising home equity has been an important part of their willingness to take on all that (mortgage) debt.
Avery Shenfeld
It's now evident that the US economy is headed for a very brisk first-quarter growth pace, with our above-consensus 4.8 percent real GDP forecast looking, if anything, too conservative.
Avery Shenfeld
The Bank of Canada remains on the warpath against inflation in an economy where recent job and production gains are, in its view, too much of a good thing.
Avery Shenfeld
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