Statistics Canada will release its survey on the impact of COVID-19 on businesses in Canada on July 14, 2020. (Photo by THE CANADIAN PRESS)

Five things to watch for in the Canadian business world in the coming week

Impact of COVID-19 on businesses survey

TORONTO — Five things to watch for in the Canadian business world in the coming week:

Statistics Canada report

Statistics Canada is scheduled to release its analysis of the effects of changing consumption patterns on consumer price indexes on Monday. The agency recently reported that the annual pace of inflation pulled back even further in May due to a drop in gasoline prices compared with a year ago as businesses shut due to the COVID-19 pandemic began to reopen slowly.

Pandemic effects on business

Statistics Canada will release its survey on the impact of COVID-19 on businesses in Canada on Tuesday. The Bank of Canada’s latest review of business and consumer expectations revealed how widespread uncertainty is muting rehiring and purchasing plans, with only half of firms polled expecting a rebound in their sales within the next year as COVID-19’s effects recede.

Home sales

The Canadian Real Estate Association is expected to release its figures for June home sales figures on Wednesday. Sales are expected to show a sharp increase compared with May as buyers returned to the market.

May manufacturing

Statistics Canada is scheduled to release its monthly survey of manufacturing for May on Wednesday. The agency previously reported that sales fell by a record amount in April, the first full month of physical distancing measures in the wake of COVID-19, but that sales were expected to regain at least some ground in May as factories moved to resume production.

Rate announcement

The Bank of Canada will release its latest interest rate announcement and monetary policy report on Wednesday. The central bank is expected to keep its key interest rate on hold at 0.25 per cent, while the monetary policy report will include an update to its economic forecast.

This report by The Canadian Press was first published July 12, 2020.

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