- Canadian Consumer Price Index rose by 2% Y/Y in June vs 2.4% in May.
- Gasoline prices fell 8.0%, the sharpest drop on record for June
- Alberta’s Consumer Price Index rate is up 1.4%
- Canadian retail sales dropped 0.1% M/M in May vs an expected gain of 0.3% led by a decline in food and drink due to poor weather.
- Alberta’s retail sales shrank 1.7% M/M in May
- Canada has fallen to the 13th most competitive economy in the world, its lowest ranking ever.
- #1. Singapore, #2. Hong Kong, #3. United States
- Teranet National Housing Price Index grew at 0.5% Y/Y (vs 2% inflation), its smallest gain since November 2009.
- The interest rate used in ‘Canadian Mortgage Stress Test’ has fallen for the first time since 2016. The rate for new homes or changes of lender used is now 5.19% vs a previous 5.34%.
- Same lender refinancing (change of terms) was down 12% in 2018 while renewals (no changes) with the same lender were up 16%
- A minimum wage earner could afford a one or two bedroom apartment in just 24 Canadian neighbourhoods (of 795 examined).
Alberta’s Income, 2017
- The median after-tax family income for Albertans in 2017 was $62,950 vs $52,330 across all of Canada, income grew 0.5% between 2014 and 2017 vs 7.2% for Canada.
- Income fell in 10 out of 18 urban areas in Alberta between 2014 and 2017.
- Edmonton median after-tax family income was $63,030 and Calgary was $63,830 in 2017
- 74.9% of Albertans income in 2017 came from their employment, 8% came from dividends and interest.
- 60% of livestock breeds are at risk of extinction in 70 countries that the UN has risk status information on.
- Pork producers in the US are losing $1 billion annually because of the trade war with China, costing them an annual $8 per animal.
- Chinese hog inventories have dropped 26% Y/Y, due to the outbreak of a deadly virus in August 2018.
- Amazon Prime Day sales (first 24 hours up 53% vs 2018) were more than 10x as much as was spent on Walmart and eBay, combined.
- The EU has opened a formal antitrust investigation into Amazon centered around Amazon’s “dual role” as both a merchant and a market place.
- Ursula von der Leyen has won parliamentary approval to become the first female European Commission President.
- Elon Musk says Neuralink (allows paralyzed patients to operate computers with electrodes implated in their brains) is ready for testing.
- Alert, Nunavut experienced a record-breaking heatwave topping 21C (July avg is 7C).
- Heatwave is the equivalent of Toronto having a high of 42C