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Greater Niagara Chamber of Commerce

Daily Update: June 15, 2023

In this edition:

Canadian home sales continued to pick up steam in May

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up again on a month-over-month basis in May 2023.

Home sales recorded over Canadian MLS® Systems posted a 5.1% increase between April and May 2023, building on the double-digit jump in April and smaller gains in February and March. (Chart A) Sales were up in about 70% of all local markets, including Canada’s largest markets: the Greater Toronto Area (GTA), Montreal, Greater Vancouver, Calgary, Edmonton, and Ottawa.

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Standing Committee on Agriculture and Agri-Food releases report on food inflation

The Standing Committee on Agriculture and Agri-Food has presented recommendations to the federal government on how it can tackle food inflation in a new report.

Grocery Affordability: Examining Rising Food Costs in Canada, released Tuesday (June 13), contains 13 recommendations, including strengthening data collection on price formation throughout the supply chain and addressing financial challenges faced by farmers and food processors.

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Ontario government awards GO train expansion contract

The Ontario government has awarded a contract to advance planning to extend GO train service to Bowmanville, marking another milestone in the province’s plan to deliver more transit options, connect communities and save families time and money in Durham Region and across the Greater Toronto and Hamilton Area (GTHA).

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Residential building investment down while non-residential sector edges up

Investment in building construction went up by 0.4% to $20.3 billion in April. The residential sector edged down 0.7% to $14.4 billion, while the non-residential sector was up by 3.4% to $5.9 billion.

On a constant dollar basis (2012=100), investment in building construction grew 2.3% to $11.8 billion.

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Strong motor vehicle parts sales drive Canadian manufacturing gains for April

Canadian manufacturing sales increased 0.3% to $72.3 billion in April, mainly on higher sales of motor vehicle parts (+25.1%) and petroleum and coal products (+4.3%). This was the second consecutive monthly increase for the sector. Sales in the primary metal industry (-5.4%) declined the most. On a year-over-year basis, total sales were down 1.6% in April.

Sales in constant dollars rose 0.8% in April, indicating a higher volume of goods sold. The industrial product price index fell 0.2% in April.

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Did you know?

Louis Vuitton burns all unsold handbags every year to prevent them from being sold at a discount or ending up on the black market.

Focus on Equity, Diversity & Inclusion

Fostering 2SLGBTQ+ inclusion in the workplace

What makes a workplace inclusive? For Ontario Teachers’, it’s when employees are comfortable bringing their true selves to work and have confidence in knowing they have the same opportunities as everyone else.

“At Ontario Teachers’ there is a genuine and authentic desire to create the best work environment to drive performance and ensure employee wellbeing,” said Nick Jansa, Senior Managing Director, EMEA. “We believe it’s the right thing to do and have been focusing our efforts on building and fostering an inclusive workplace long before it became the corporate expectation.”

However, this is not something that happens overnight, but rather a continuous process. Below, learn about some of the key steps taken by Ontario Teachers’ on our journey towards building a more inclusive workplace.

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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.

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