TORONTO — Five things to watch for in the Canadian business world in the coming week:
May home sales
Canadian Real Estate Association expected to release home sales figures for May on Monday. The organization’s report for April revealed that Canadian home sales plunged to levels not seen in almost 40 years as the COVID-19 outbreak forced distancing measures and created economic uncertainty.
May inflation numbers
Statistics Canada will release its consumer price index for May on Wednesday. The agency reported that Canada’s annual inflation rate turned negative in April as the economy came to a standstill in the first full month of the pandemic as part of a spending shift that a top central banker says may signal further changes in consumption patterns post-COVID-19.
CMHC releases mortgages and consumer credit trends data on Thursday. The federal housing agency announced Friday that it will re-assess all of its policies and practices through a racialized lens in an effort to eliminate discrimination.
Bank of Canada deputy governor Lawrence Schembri will give a speech by video conference to the Greater Saskatoon Chamber of Commerce on Thursday. Deputy governor Toni Gravelle recently told an audience that the central bank will be paying close attention to what the post-pandemic economy can supply and what consumers demand.
Retail trade numbers
Statistics Canada is set to release retail trade figures for April on Friday. Retail sales in Canada dropped 10 per cent in March, their biggest monthly decline on record, and Statistics Canada warned that the drop for April is expected to be even bigger.