Five things to watch for in the Canadian business world in the coming week:
Australia-Canada conference
The Australia-Canada Economic Leadership Forum opens Monday evening in Toronto. The meeting this year focuses on sustainability, recovery and growth post-pandemic. Industry Minister François-Philippe Champagne and Kristy McBain, Australia’s minister for regional development, local government and territories, will participate in a fireside chat at conference reception on Tuesday.
May economic data
The picture of how the economy fared in May will become a little clearer with a pair of reports from Statistics Canada this week. The agency will release its report on wholesale trade for May on Monday followed by its reading of retail sales for the month on Friday.
Earnings
PrairieSky Royalty is expected to report its second-quarter results after the close of markets on Monday and hold a conference call with analysts on Tuesday morning. Trucking company Mullen Group Ltd. is scheduled to report its results before markets open on Thursday, while Choice Properties Real Estate Investment Trust plans to release its results after the close of markets that day.
Inflation
Statistics Canada will release its latest reading for inflation on Tuesday when it publishes its consumer price index for June. The annual pace of inflation slowed to 3.4 per cent in May, its slowest pace since June 2021 and down from an annual rate of 4.4 per cent in April. The inflation report comes after the Bank of Canada raised its key interest rate to five per cent as it works to bring inflation back to its target of two per cent.
Housing starts
Canada Mortgage and Housing Corp. will release Tuesday its monthly housing starts report for June. The annual rate of housing starts in May came in at 202,494 units, down from 261,357 units in April.
The Canadian Press
