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Five things to watch for in the Canadian business world in the coming week

TORONTO — Five things to watch for in the Canadian business world in the coming week: Home sales As the country's real estate market cools, the Canadian Real Estate Association is expected to release home sales figures for July on Monday.
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A for sale sign is displayed in front of a house in the Riverdale area of Toronto on Wednesday, September 29, 2021. As the country's real estate market cools, the Canadian Real Estate Association is expected to release home sales figures for July. THE CANADIAN PRESS/Evan Buhler

TORONTO — Five things to watch for in the Canadian business world in the coming week:

Home sales

As the country's real estate market cools, the Canadian Real Estate Association is expected to release home sales figures for July on Monday. Home sales in June were down 24 per cent compared with a year earlier. 

Manufacturing data 

Statistics Canada will release its monthly survey of manufacturing for June on Monday. The data comes after the agency reported that the Canadian economy stayed flat in May, with real gross domestic product remaining unchanged in May after a 0.3 per cent expansion in April. Canadian manufacturing sales fell 2.0 per cent to $71.6 billion in May as auto production fell.

Wholesale trade

Statistics Canada will also release its figures for wholesale trade in June on Monday. Wholesale sales rose 1.6 per cent in May to $81.1 billion, boosted by higher sales in the food, beverage and tobacco subsector and the machinery, equipment and supplies group.

Inflation

The latest reading on inflation is expected Tuesday when Statistics Canada reports its consumer price index for July. The report for June showed the annual inflation rate rose to 8.1 per cent compared with a year ago, its hottest pace in nearly 40 years. Economists are predicting Canada's inflation rate may have peaked in June as gas prices soared. 

Retail sales

Statistics Canada will report June retail sales figures on Friday. Higher gas prices helped lift Canadian retail sales 2.2 per cent in May to $62.2 billion. An early estimate from Statistics Canada pointed to a slowdown in the pace of sales gains for June.

This report by The Canadian Press was first published Aug. 14, 2022

The Canadian Press

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