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Statistics Canada will release its latest reading for inflation on Tuesday when it publishes its consumer price index for July. A woman shops in a clothing store in Montreal, Sunday, November 22, 2020.THE CANADIAN PRESS/Graham Hughes
TORONTO — Five things to watch for in the Canadian business world in the coming week:
Suncor results
Energy giant Suncor Energy Inc. is set to release financial results for its second quarter on Monday. The earnings come on the heels of a cybersecurity incident at the company in June that disrupted operations at Petro-Canada.
Cargojet earnings
Amid an uncertain air freight market, Cargojet Inc. is slated to release its financial results for the second quarter on Monday morning, with an analyst conference call to follow that day. Analysts will want to know if softening consumer spending is affecting freight volumes at the carrier.
Inflation data
Statistics Canada will release its latest reading for inflation on Tuesday when it publishes its consumer price index for July. The annual pace of inflation slowed to 2.8 per cent in June, down from an annual rate of 3.4 per cent in May and putting it within the Bank of Canada’s target range for the first time since March 2021. The inflation report comes after the Bank of Canada raised its key interest rate to five per cent last month as it works to rein in consumer prices.
Home sales
The Canadian Real Estate Association will release home sales figures for July on Tuesday. The organization downgraded its sales forecast for the year earlier in the summer as interest rate hikes continue to weigh on borrowing costs and buyer sentiment. The average price of a home reached $709,218 in June, up 6.7 per cent from a year earlier.
NFI Group results
Winnipeg-based bus-maker NFI Group Inc. will release second quarter financial results on Wednesday. The company is expected to report another net loss as it continues to grapple with supply chain disruptions and inflation pressures.
This report by The Canadian Press was first published Aug. 13, 2023.
Companies in this story: (TSX:SU, TSX:CJT, TSX:NFI)
The Canadian Press
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