October 16, 2019
Inflation in the Edmonton Census Metropolitan Area (CMA), as measured by the Consumer Price Index (CPI), inched higher to an annual rate of 1.4 per cent in September 2019 from 1.3 per cent in August. On a year-over-year basis, upward pressure on the inflation rate in September 2019 came largely from higher rented accommodation costs which increased 3.8 per cent, as well as costs related to water, fuel and electricity which rose 4.1 per cent. Overall shelter costs were up 2.5 per cent year-over-year in September 2019. The lift in shelter costs was partially offset by lower gasoline prices, which have been recording double-digit year-over-year declines since June 2019.
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Edmonton's job figures down in September
October 11, 2019
Employment in the Edmonton Census Metropolitan Area (CMA) was down by approximately 3,100 positions between August and September 2019. These losses were largely full-time positions, as part-time employment increased by a nominal amount. Gains in manufacturing and logistics were more than offset by continuing reductions in the educational services as well as weakness in business services and public administration.
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Multi-family housing starts continue to rise in Q3 2019
October 8, 2019
Builders in the city of Edmonton broke ground on a total of 2,702 housing units in Q3 2019, representing an increase of 8.7 per cent year-over-year from 2,486 units in Q3 2018. The one-year moving average for total housing starts in Edmonton increased in Q3 2019 from the previous quarter, driven by gains in the multi-family segment.
Read the full report > (http://trk.cp20.com/click/chor-1h4vcr-l6xgfy-5j7ovqj9/)
International Monetary Fund (http://trk.cp20.com/click/chor-1h4vcr-l6xgfz-5j7ovqj0/) downgrades global economic growth forecast for 2019 and 2020
Bank of Canada (http://trk.cp20.com/click/chor-1h4vcr-l6xgg0-5j7ovqj7/) maintains overnight rate target at 1 3/4 per cent
Bank of Canada (http://trk.cp20.com/click/chor-1h4vcr-l6xgg1-5j7ovqj8/) raises national economic growth forecast for 2019 to 1.5 per cent, downgrades forecast for 2020
Moderate growth expected over the short term for Edmonton's housing market, according to CMHC's Fall 2019 Housing Market Outlook (http://trk.cp20.com/click/chor-1h4vcr-l6xgg2-5j7ovqj9/)
Economic Society of Northern Alberta's (http://trk.cp20.com/click/chor-1h4vcr-l6xgg3-5j7ovqj0/) 2020 Economic Outlook Conference will be held on December 5
US Federal Reserve (http://trk.cp20.com/click/chor-1h4vcr-l6xgg4-5j7ovqj1/) lowers the target range for the federal funds rate, future rate cuts in doubt
To find more information about Edmonton's economy, browse our Economic Data (http://trk.cp20.com/click/chor-1h4vcr-l6xgg5-5j7ovqj2/).edmonton.ca/economicnews (http://trk.cp20.com/click/chor-1h4vcr-l6xgg6-5j7ovqj3/)
City of Edmonton
5th Fl Chancery Hall
3 Sir Winston Churchill Sq NW
Edmonton Alberta T5J 2C3