The Weekly Review, September 16 to 20, 2024

Canadian manufacturing sales rise in July

Following a 1.7% decrease in June, Canadian manufacturing sales rose 1.4% to $71.0 billion in July, driven by higher sales of petroleum and coal (+6.7%) and chemical (+5.3%) products. Sales in the wood product subsector (-4.8%) declined the most. Despite the monthly increase, total sales on a year-over-year basis were down 1.1% in July. Sales in constant dollars rose 0.9% in July, while the Industrial Product Price Index was unchanged and the Raw Materials Price Index rose 0.7%.

Source: Monthly Survey of Manufacturing, July 2024

Consumer Price Index rises on a year-over-year basis in August

The Consumer Price Index (CPI) rose 2.0% on a year-over-year basis in August, increasing at the slowest pace since February 2021, and down from a 2.5% gain in July 2024. The deceleration in headline inflation in August was due, in part, to lower prices for gasoline, due to a combination of lower prices and a base-year effect. Excluding gasoline, the CPI rose 2.2% in August, down from 2.5% in July. Mortgage interest cost and rent remained the largest contributors to the increase in the CPI in August.

Source: Consumer Price Index, August 2024

Experiencing non-physical childhood maltreatment associated with increased likelihood of mental health disorders

In 2018, nearly one-third of individuals in Canada (32.3%) experienced only non-physical types of maltreatment, and nearly one-quarter (23.3%) experienced both physical and non-physical maltreatment in childhood. Lifetime suicidal ideation was higher for individuals who experienced emotional neglect (24%), emotional abuse (20%), physical neglect (22%), exposure to physical intimate partner violence (20%), or interpersonal aggression (18%) compared with those who never experienced these types of maltreatment (13%; 12%; 16%; 15%; 13%, respectively). Findings from this study suggest that non-physical types of childhood maltreatment have important implications for mental health outcomes.

Source: Health Reports, September 2024

Foreign investors increase their exposure to Canadian securities in July

Foreign investors increased their exposure to Canadian securities by $11.0 billion in July. Meanwhile, Canadian acquisitions of foreign securities slowed to $4.5 billion, down from a $16.4 billion investment in June. As a result, international transactions in securities generated a net inflow of funds of $6.5 billion in the Canadian economy in July.

Source: Canada's international transactions in securities, July 2024

Retail sales up in seven of nine subsectors in July

Retail sales increased 0.9% to $66.4 billion in July. Sales were up in seven of nine subsectors and were led by increases at motor vehicle and parts dealers. Core retail sales – which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers – were up 0.6% in July. In volume terms, retail sales increased 1.0%.

Source: Retail trade, July 2024

Almost three-quarters of Canadians with German ancestry have been here three generations or more

Just under three million Canadians reported German origins in the 2021 Census, making “German” the sixth-largest ethnic group in Canada, following “Canadian,” “English,” “Irish,” “Scottish” and “French.” In 1871, the first national census counted 202,991 people reporting German ancestry, accounting for 5.8% of Canada’s total population. Flashforward to 2021 and the number of people who reported German ancestry, either as their sole origin or with other origins, had risen to 2,955,695. This represented 8.1% of Canada’s total population. Almost three in four people (73.1%) who reported German ethnicity in 2021 could trace their Canadian roots back three generations or more.

Source: Prost to a happy Oktoberfest!