Canada is out with some statistics today including January wholesale trade. That metric rose 1.8% based on a 59.1% survey response that will be updated with the full slate.
Another report highlights that aircraft movements in the country are only back to 92% of the movements recorded in 2019. That differs from the US, where flights are up compared to pre-pandemic. The slow recovery highlights differing economic paths and a per-capita recession in Canada.
Notably, November and December monthly load factors were below those from the same months in 2023.
A survey on investment intentions provided some good news with non-residential tangible capital asset investment forecast to rise 5.5% in 2025, with similar growth in both public and private spending. The survey notes, however, that it was done before tariffs threats and announcements.
Overall, the numbers look solid but I worry about a drop in consumption on tariff angst and a rout in the housing market, particularly in Ontario and BC.
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