Five things to look out for in the Canadian business world in the coming week

TORONTO – Five things to watch out for in the Canadian business world in the week ahead:

Australia-Canada Conference

The Australia-Canada Economic Leadership Forum opens Monday night in Toronto. This year’s meeting focuses on sustainability, recovery and growth after the pandemic. Industry Minister François-Philippe Champagne and Kristy McBain, Australia’s Minister for Regional Development, Local Government and Territories, will join in a fireside chat at the conference reception on Tuesday.

May economic data

The picture of how the economy fared in May will become a little clearer this week with a few reports from Statistics Canada. The agency will release its May wholesale report on Monday, followed by its retail sales reading for the month on Friday.

Revenue

PrairieSky Royalty is expected to report its second-quarter results Monday after markets close and hold a conference call with analysts Tuesday morning. Transport company Mullen Group Ltd. is expected to publish its results before markets open on Thursday, while Choice Properties Real Estate Investment Trust plans to release its results after markets close that day.

Inflation

Statistics Canada will release its latest inflation figures on Tuesday when it releases its consumer price index for June. The annual inflation rate slowed to 3.4 percent in May, the lowest rate since June 2021 and lower than the 4.4 percent annual rate in April. The inflation report comes after the Bank of Canada raised its key interest rate to five percent to bring inflation back to its target of two percent.

Housing begins

Canada Mortgage and Housing Corp. publishes its monthly housing report for June on Tuesday. The annual number of housing starts in May amounted to 202,494 units, compared to 261,357 units in April.

This report from The Canadian Press was first published on July 16, 2023.

Companies in this story: (TSX:PSK, TSX:MTL, TSX:CHP.UN)

PART: