TORONTO — Five things to watch for in the Canadian business world in the coming week:
Canada’s big banks are set to report earnings this week, with Scotiabank kicking things off on Tuesday, followed by RBC and National Bank on Wednesday, CIBC and TD Bank on Thursday, and BMO on Friday. The banks are expected to announce dividend hikes, after the Office of the Superintendent of Financial Institutions lifted pandemic-related restrictions on Nov. 4 that had prevented federally regulated banks and insurers from raising dividends and buying back shares.
Q3 GDP figures:
Statistics Canada is scheduled to release gross domestic product figures for September and the third quarter on Tuesday. The agency’s initial estimate on Oct. 29 suggested the economy grew at an annual rate of 1.9 per cent in the quarter as it rebounded from a contraction in the second quarter.
TC Energy meeting:
TC Energy is expected to hold a virtual investor day on Wednesday. The pipeline giant announced on Nov. 23 it is formally seeking to recover more than US$15 billion in “economic damages'' from the U.S. government following President Joe Biden's decision to cancel a key presidential permit for the cross-border Keystone XL expansion project when he took office in January.
November home sales:
November home sale figures for Calgary, Vancouver and Toronto are scheduled to be published on Wednesday, Thursday and Friday, respectively. The Canadian Real Estate Association said on Nov. 15 that home sales across the country saw their largest month-over-month increase since July 2020 in October, even as new listings fell by about 20 per cent from a year ago.
November jobs numbers:
Statistics Canada is set to release its labour force survey for November on Friday. The agency previously reported that the addition of 31,000 jobs in October lowered the unemployment rate to 6.7 per cent, down from 6.9 per cent in September. Economists have warned that further gains could become increasingly difficult.
This report by The Canadian Press was first published Nov. 28, 2021.
The Canadian Press