As we near the year's end, it becomes crucial to assess the economic trends influencing Canada's financial landscape. This update dives into essential insights regarding the Canadian economy and their implications for businesses and individuals nationwide

Business Inflation Expectations: 

Despite recent reports of decreased inflation rates, it's worth highlighting that more than half of Canadian businesses anticipate price increases of over 3% in the next two years. This expectation creates a distinctive challenge for businesses aiming to control expenses and sustain profitability, especially as we approach the year's conclusion.

Consumer Sentiment: 

In September, Canadian consumer confidence experienced a substantial decline, reaching its lowest level since the early days of the pandemic and the 2008 financial crisis. This decrease in sentiment raises questions about forthcoming consumer spending and investment trends.

Population Growth: 

Looking on the bright side, Canada's population is undergoing a swift expansion, with an addition of nearly 360,000 individuals in the third quarter alone, reflecting a noteworthy growth rate of 0.9%. This surge constitutes the most significant population increase in over five decades, ushering in opportunities and challenges for our communities and businesses, particularly as we approach the final quarter of the year.

Affordable Housing: 

Both Alberta and Atlantic Canada have observed a growing influx of Canadians seeking affordable housing solutions. This trend takes on added significance as we head into the final quarter of the year, emphasizing the urgent demand for affordable housing and reinforcing the importance of effective housing policies in various regions.

House Price Expectations: 

Our surveys indicate that Canadians currently anticipate an approximate 5% annual increase in house prices, marking a significant uptick from the 2% projection earlier in the year. It's important to remember that the housing market is continually evolving, especially as we transition into the last quarter of the year.