In this edition:
- Niagara Parks focused on ‘critically important’ U.S. market
- Trump’s tariffs won’t cause out-of-control prices in Canada, economists say
- Economists expect annual inflation rate to come in at 2.6% for March
- Rising Canada recession risk may trigger at least 2 more rate cuts this year
- MNP survey shows that Canadians are cutting spending, delaying purchases
- Rise in Ontario wholesale trade offsets decline in other provinces for net gain
- Trump considers pausing his auto tariffs as the world economy endures whiplash
- Focus on Markets
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Photo credit: Niagara Parks Commission
Niagara Parks focused on ‘critically important’ U.S. market
“The U.S. market is critically important to Niagara Parks — 43 per cent of our revenue in 2024 came from the U.S. market,” David Adames, Niagara Parks chief executive officer, told Niagara Falls city council during an annual update Tuesday.
Canadian tourism destinations are hopeful for a successful summer season because of several factors, including Canadians not travelling as much to the U.S. due to political tensions and a weak Canadian dollar, choosing instead to staycation in Canada.
Picture credit: Monster Ztudio / Adobe Stock
Economists expect annual inflation rate to come in at 2.6% for March
Pricing trends are getting pushed all over the place these days by big economic shifts, resulting in what’s expected to be another elevated inflation reading in Canada this week.
Economists polled by Reuters expect annual inflation for March to come in at 2.6 per cent when it’s released Tuesday, matching February’s reading.
Picture credit: kamon_saejueng / Adobe Stock
Rising Canada recession risk to trigger at least 2 more rate cuts this year, economists predict
Growing recession risks to Canada from the U.S.-led trade war will push the Bank of Canada to cut interest rates at least twice more this year, some economists predict, although a majority of economists said policymakers will leave them unchanged on Wednesday.
Picture credit: Syda Productions / Adobe Stock
Rise in Ontario wholesale trade offsets decline in other provinces for net national gain
Despite six provinces reporting decreases in wholesale sales in February, an increase in Ontario (the province accounting for 52.1% of total wholesale sales) led to an overall increase at the national level, Statistics Canada reported today.
Ontario posted an increase for the second consecutive month, up 1.5% to reach $44.6 billion in February. Gains were recorded in five of the seven subsectors, with the machinery, equipment and supplies subsector (+9.5% to $9.7 billion) posting the largest increase.
Picture credit: Office of the President of the United States
Trump considers pausing his auto tariffs as the world economy endures whiplash
U.S. President Donald Trump on Monday suggested that he might temporarily exempt the auto industry from tariffs he previously imposed on the sector, to give carmakers time to adjust their supply chains.
“I’m looking at something to help some of the car companies with it,” Trump told reporters gathered in the Oval Office. The Republican president said automakers needed time to relocate production from Canada, Mexico and other places, “And they need a little bit of time because they’re going to make them here, but they need a little bit of time. So I’m talking about things like that.”
Focus on Equity, Diversity & Inclusion
Donna Skelly becomes Ontario’s first female Speaker
Ontario MPPs have made history by electing the first female Speaker of the legislative assembly.
In a secret ballot vote Monday afternoon, Progressive Conservative MPP Donna Skelly was chosen as the 44th Speaker of Ontario.
She thanked Premier Doug Ford, her fellow MPPs, and her challenger for the role, NDP MPP Jennifer French. She said in her acceptance speech that she was “honoured” and “privileged” to be the new Speaker, but “more importantly,” the first female one.
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
