TORONTO – Five things to watch out for in Canadian business over the coming week:
withdrawal of the cabinet
Prime Minister Justin Trudeau will hold a cabinet retreat in Charlottetown starting Monday. The pullback comes after a major table change last month and is expected to focus on the economy and affordability issues. After the summer break, MPs are due to return to the House of Commons on September 18.
environmental conference
Canada is hosting the Global Environment Facility meeting, which begins Tuesday in Vancouver. The conference will bring together ministers, government officials, business leaders, environmentalists and others.
retail sales
The picture of how the economy fared in the second quarter will become a little clearer when Statistics Canada releases its June retail sales figures on Wednesday. The agency’s first estimate for this month suggested retail sales were flat, but warned the number would be revised.
bank income
Canada’s major banks will begin releasing their latest quarterly results this week. The Royal Bank of Canada and Toronto-Dominion Bank are expected to release their third-quarter results on Thursday. The reports come at a time when household budgets are being weighed down by inflation and higher interest rates.
financial monitor
The Treasury Department is expected to release its latest figures on federal government spending and revenue. The Fiscal Monitor report for June is expected on Friday. The report for April and May, the first two months of fiscal 2023-24, showed a budget surplus of $1.5 billion, compared to a surplus of $5.3 billion for the same period last year.
This report from The Canadian Press was first published on August 20, 2023.
Companies in this story: (TSX:RY, TSX:TD)
The Canadian Press
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