Digital Progress: Canada

Canada: Consumer and Business Activity GDP TRENDING UPWARD DESPITE STALLING IN 110 Index, 2019Q4 = 100 105 Jan 13, 2020 forecast 100 95 90 90 85 80 19Q4 20Q1 20231 BUSINESS CONFIDENCE CFIB BUSINESS BAROMETER 2 80 index, 50 stronger 70 60 May 18, 2023 forecast 50 20Q2 20Q3 20Q4 21Q1 index, Feb 2020 levels = 100 21Q2 21Q3 KEY ECONOMIC INDICATORS 3 21Q4 22Q1 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 23Q4 24Q1 24Q2 24Q3 24Q4 Feb-20 Apr-20 Jun-20 Aug-20 100 160 × 6 8 8៩ ៩ ៩ ៖ Auto Sales ⚫ Mfg Shipments Exports Oct-20 Dec-20 Feb-21- Apr-21- Jun-21- Aug-21- Oct-21- Dec-21- Feb-22 Apr-22- Jun-22 Housing Starts Retail Sales 40 40 30 3-month moving average 6-month moving average Avg. 2011-present Headline index 20 11 12 13 14 15 16 17 18 19 20 21 22 23 110 Feb. 2020 100 105 18 100 95 Aug-22 Oct-22- Dec-22 Feb-23 Apr-23 Employment Manufacturing PMI 90 85 8 1080 80 LABOUR MARKET RECOVERY 1 Feb-20 Apr-20 Jun-20 Aug-20 Oct-20 Dec-20 Feb-21 Apr-21 Jun-21 1 Sources: Scotiabank Economics, Statistics Canada; 2 Sources: Scotiabank Economics, CFIB; 3 Sources: Scotiabank Economics, Bloomberg Canada Jobs Aug-21 Oct-21 +41K Jobs in Apr. 2023 Dec-21 Feb-22 Apr-22 Jun-22 Aug-22 Oct-22 Dec-22 Feb-23 Apr-23 70 0

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