Canadian Economic Calendar - March 2023

DateStatisticForCurrent MonthPrevious Month
Wednesday, March 1, 2023Markit Canada Manufacturing PMI 9:30 a.m. FebThe index recorded 52.4 in February. That was up from 51.0 in JanuaryThe seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index recorded 51.0 in January, up from 49.2 at the end of 2022.
Friday, March 3, 2023Building Permits: 8:30amJanThe monthly total value of building permits in Canada decreased 4.0% in January to $9.8 billion.The monthly total seasonally adjusted value of building permits in Canada decreased 7.3% in December to $10.3 billion.
Monday, March 6, 2023IVEY Purchasing Managers Index: 10:00amFebThe index subsided to 51.6 in February from January's 60.1, and much lower than the 63.6 level in February 2022.The index climbed last month to 60.1 from December's 49.3, and a reading of 64.9 in January 2022.
Wednesday, March 8, 2023BoC Interest Rate Decision: 10:00amMarThe Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at 4.5%. The Bank is also continuing its policy of quantitative tightening.The Bank of Canada today increased its target for the overnight rate to 4.5%, with the Bank Rate at 4.5% and the deposit rate at 4.5%.
Wednesday, March 8, 2023Canadian International Merchandise Trade: 8:30amJanIn January, Canada's merchandise exports increased 4.2%, while imports were up 3.1%. As a result, Canada's merchandise trade surplus with the world widened from a revised $1.2 billion in December 2022 to $1.9 billion in January 2023.In December, Canada's merchandise exports decreased 1.2%, while imports were down 1.3%. As a result, Canada's merchandise trade deficit with the world narrowed from $219 million in November to $160 million in December.
Friday, March 10, 2023Labour Force Survey: 8:30amFebEmployment held steady in February (+22,000; +0.1%), and the unemployment rate was unchanged at 5.0%.Employment increased by 150,000 (+0.8%) in January, and the unemployment rate held steady at 5.0%.
Tuesday, March 14, 2023Monthly Survey of Manufacturing: 8:30amJanManufacturing sales increased 4.1% in January, primarily on higher sales in the petroleum and coal product, motor vehicle and food industries.Manufacturing sales fell 1.5% in December, mainly on lower sales of petroleum and coal product, wood product and food industries.
Wednesday, March 15, 2023CREAstats - MLS Sales: 8:30amFebNational home sales rose 2.3% month-over-month in February. Actual (not seasonally adjusted) monthly activity came in 40% below February 2022. The number of newly listed properties dropped 7.9% month-over-month.National home sales declined 3% month-over-month in January. Actual (not seasonally adjusted) monthly activity came in 37.1% below January 2022.
Wednesday, March 15, 2023Housing Starts: 8:15amFebThe trend in housing starts was 255,735 units in February 2023, down from 259,830 units in January.The standalone monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada declined 13% in January (215,365 units) compared to December (248,296 units).
Thursday, March 16, 2023Wholesale Trade: 8:30amJanWholesale sales rose 2.4% to $84.2 billion in January. Wholesale sales fell 0.8% to $82.2 billion in December. Declines in the machinery, equipment and supplies subsector and the miscellaneous goods subsector led the losses.
Friday, March 17, 2023Raw Materials Price Index: 8:30amFebThe RMPI decreased 0.4% in February and fell 5.2% compared with the same month in 2022.The index edged down 0.1% month over month in January and was 1.2% higher compared with January 2022.
Friday, March 17, 2023Industrial Product Price Index: 8:30amFebThe index declined 0.8% month over month in February and rose 1.4% year over year.The index increased 0.4% month over month in January and rose 5.4% year over year.
Friday, March 17, 2023Canada's International Transactions in Securities: 8:30amJanCanadian investors reduced their holdings of foreign securities by $16.2 billion in January, the largest divestment since March 2022. Meanwhile, non-residents acquired $4.2 billion of Canadian securities in January 2023, down considerably from a $21.2 billion investment in December 2022.Foreign investment in Canadian securities accelerated in December and reached $21.2 billion, the largest investment since August. At the same time, Canadian investors reduced their holdings of foreign securities by $2.3 billion after buying $14.7 billion in November.
Monday, March 20, 2023New Motor Vehicle Sales: 7:30amJanNew motor vehicle sales in January totaled 104,250 in Canada, reflecting a decrease of 4.6% monthly but a year-on-year increase of 8.8%. By value, vehicle sales in this country totaled $5.87 billion, compared to $6.13 billion in December.New motor vehicle sales in Canada totaled 111,049 in December, a dip of 10.9% monthly but an increase of 7.1% year-on-year.
Tuesday, March 21, 2023Consumer Price Index: 8:30amFebCPI rose 5.2% on a year-over-year basis in February, following a 5.9% increase in January. On a seasonally-adjusted monthly basis, the CPI rose 0.1% in February.The Consumer Price Index (CPI) rose 5.9% on a year-over-year basis in January, following a 6.3% increase in December. On a seasonally adjusted monthly basis, the CPI rose 0.3% in January.
Wednesday, March 22, 2023New Housing Price Index: 8:30amFebThe national index declined 0.2% month over month in February, following a similar decrease in January. New home prices in Canada declined 0.2% month over month in January.
Friday, March 24, 2023Retail Trade: 8:30amJanRetail sales increased 1.4% to $66.4 billion in January.Retail sales increased 0.5% to $62.1 billion in December.
Thursday, March 30, 2023Payroll Employment, Earnings and Hours: 8:30amJan---The number of employees receiving pay or benefits from their employer—measured as "payroll employees" in the Survey of Employment, Payrolls and Hours—rose by 91,400 (+0.5%) in December, bringing cumulative gains since September to 240,600 (+1.4%).
Friday, March 31, 2023GDP: 8:30amJan---Real gross domestic product was nearly unchanged in the fourth quarter, following five consecutive quarterly increases.
  • Markit Canada Manufacturing PMI 9:30 a.m.

    Wednesday, March 1, 2023

    For: Feb

    Current Month:
    The index recorded 52.4 in February. That was up from 51.0 in January

    Previous Month:
    The seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers’ Index recorded 51.0 in January, up from 49.2 at the end of 2022.
  • Building Permits: 8:30am

    Friday, March 3, 2023

    For: Jan

    Current Month:
    The monthly total value of building permits in Canada decreased 4.0% in January to $9.8 billion.

    Previous Month:
    The monthly total seasonally adjusted value of building permits in Canada decreased 7.3% in December to $10.3 billion.
  • IVEY Purchasing Managers Index: 10:00am

    Monday, March 6, 2023

    For: Feb

    Current Month:
    The index subsided to 51.6 in February from January's 60.1, and much lower than the 63.6 level in February 2022.

    Previous Month:
    The index climbed last month to 60.1 from December's 49.3, and a reading of 64.9 in January 2022.
  • BoC Interest Rate Decision: 10:00am

    Wednesday, March 8, 2023

    For: Mar

    Current Month:
    The Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at 4.5%. The Bank is also continuing its policy of quantitative tightening.

    Previous Month:
    The Bank of Canada today increased its target for the overnight rate to 4.5%, with the Bank Rate at 4.5% and the deposit rate at 4.5%.
  • Canadian International Merchandise Trade: 8:30am

    Wednesday, March 8, 2023

    For: Jan

    Current Month:
    In January, Canada's merchandise exports increased 4.2%, while imports were up 3.1%. As a result, Canada's merchandise trade surplus with the world widened from a revised $1.2 billion in December 2022 to $1.9 billion in January 2023.

    Previous Month:
    In December, Canada's merchandise exports decreased 1.2%, while imports were down 1.3%. As a result, Canada's merchandise trade deficit with the world narrowed from $219 million in November to $160 million in December.
  • Labour Force Survey: 8:30am

    Friday, March 10, 2023

    For: Feb

    Current Month:
    Employment held steady in February (+22,000; +0.1%), and the unemployment rate was unchanged at 5.0%.

    Previous Month:
    Employment increased by 150,000 (+0.8%) in January, and the unemployment rate held steady at 5.0%.
  • Monthly Survey of Manufacturing: 8:30am

    Tuesday, March 14, 2023

    For: Jan

    Current Month:
    Manufacturing sales increased 4.1% in January, primarily on higher sales in the petroleum and coal product, motor vehicle and food industries.

    Previous Month:
    Manufacturing sales fell 1.5% in December, mainly on lower sales of petroleum and coal product, wood product and food industries.
  • CREAstats - MLS Sales: 8:30am

    Wednesday, March 15, 2023

    For: Feb

    Current Month:
    National home sales rose 2.3% month-over-month in February. Actual (not seasonally adjusted) monthly activity came in 40% below February 2022. The number of newly listed properties dropped 7.9% month-over-month.

    Previous Month:
    National home sales declined 3% month-over-month in January. Actual (not seasonally adjusted) monthly activity came in 37.1% below January 2022.
  • Housing Starts: 8:15am

    Wednesday, March 15, 2023

    For: Feb

    Current Month:
    The trend in housing starts was 255,735 units in February 2023, down from 259,830 units in January.

    Previous Month:
    The standalone monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada declined 13% in January (215,365 units) compared to December (248,296 units).
  • Wholesale Trade: 8:30am

    Thursday, March 16, 2023

    For: Jan

    Current Month:
    Wholesale sales rose 2.4% to $84.2 billion in January.

    Previous Month:
    Wholesale sales fell 0.8% to $82.2 billion in December. Declines in the machinery, equipment and supplies subsector and the miscellaneous goods subsector led the losses.
  • Raw Materials Price Index: 8:30am

    Friday, March 17, 2023

    For: Feb

    Current Month:
    The RMPI decreased 0.4% in February and fell 5.2% compared with the same month in 2022.

    Previous Month:
    The index edged down 0.1% month over month in January and was 1.2% higher compared with January 2022.
  • Industrial Product Price Index: 8:30am

    Friday, March 17, 2023

    For: Feb

    Current Month:
    The index declined 0.8% month over month in February and rose 1.4% year over year.

    Previous Month:
    The index increased 0.4% month over month in January and rose 5.4% year over year.
  • Canada's International Transactions in Securities: 8:30am

    Friday, March 17, 2023

    For: Jan

    Current Month:
    Canadian investors reduced their holdings of foreign securities by $16.2 billion in January, the largest divestment since March 2022. Meanwhile, non-residents acquired $4.2 billion of Canadian securities in January 2023, down considerably from a $21.2 billion investment in December 2022.

    Previous Month:
    Foreign investment in Canadian securities accelerated in December and reached $21.2 billion, the largest investment since August. At the same time, Canadian investors reduced their holdings of foreign securities by $2.3 billion after buying $14.7 billion in November.
  • New Motor Vehicle Sales: 7:30am

    Monday, March 20, 2023

    For: Jan

    Current Month:
    New motor vehicle sales in January totaled 104,250 in Canada, reflecting a decrease of 4.6% monthly but a year-on-year increase of 8.8%. By value, vehicle sales in this country totaled $5.87 billion, compared to $6.13 billion in December.

    Previous Month:
    New motor vehicle sales in Canada totaled 111,049 in December, a dip of 10.9% monthly but an increase of 7.1% year-on-year.
  • Consumer Price Index: 8:30am

    Tuesday, March 21, 2023

    For: Feb

    Current Month:
    CPI rose 5.2% on a year-over-year basis in February, following a 5.9% increase in January. On a seasonally-adjusted monthly basis, the CPI rose 0.1% in February.

    Previous Month:
    The Consumer Price Index (CPI) rose 5.9% on a year-over-year basis in January, following a 6.3% increase in December. On a seasonally adjusted monthly basis, the CPI rose 0.3% in January.
  • New Housing Price Index: 8:30am

    Wednesday, March 22, 2023

    For: Feb

    Current Month:
    The national index declined 0.2% month over month in February, following a similar decrease in January.

    Previous Month:
    New home prices in Canada declined 0.2% month over month in January.
  • Retail Trade: 8:30am

    Friday, March 24, 2023

    For: Jan

    Current Month:
    Retail sales increased 1.4% to $66.4 billion in January.

    Previous Month:
    Retail sales increased 0.5% to $62.1 billion in December.
  • Payroll Employment, Earnings and Hours: 8:30am

    Thursday, March 30, 2023

    For: Jan

    Current Month:
    ---

    Previous Month:
    The number of employees receiving pay or benefits from their employer—measured as "payroll employees" in the Survey of Employment, Payrolls and Hours—rose by 91,400 (+0.5%) in December, bringing cumulative gains since September to 240,600 (+1.4%).
  • GDP: 8:30am

    Friday, March 31, 2023

    For: Jan

    Current Month:
    ---

    Previous Month:
    Real gross domestic product was nearly unchanged in the fourth quarter, following five consecutive quarterly increases.