On Monday, Statistics Canada reports on building permits for October. A month-over-month increase of 1% is expected.

On Tuesday, the Bank of Canada makes its interest rate announcement. Economists expect the target for the key overnight rate to remain unchanged at 0.25%.

Canada Mortgage and Housing Corp. reports on housing starts in November. Economists expect 156,000 starts, on an annualized basis, down from 157,400 the previous month.

On Thursday, StatsCan reports on international merchandise trade for October. A deficit of $700-million is forecast, compared with a $900-million deficit the previous month.

The Bank of Canada releases its semi-annual review of the financial system.

On Friday, StatsCan reports on the new housing price index for October.


U.S. and overseas

On Monday, U.S. Federal Reserve chairman Ben Bernanke speaks to the Economic Club of Washington.

The U.S. Federal Reserve Board reports on consumer credit in October. Economists expect a drop of US$9.3 billion, compared with a decrease of $14.8 billion the previous month.

On Wednesday, the U.S. Department of Commerce reports on wholesale inventories for October. A drop of 0.5% is expected, compared with a 0.9% decline the previous month.

On Thursday, Bank of England monetary policy committee announces an interest rate decision.

The U.S. Commerce Dept. reports on the country’s trade balance for October. A deficit of US$37 billion is forecast, up from a deficit of $36.5 billion the previous month.

The U.S. Department of Labour reports on initial jobless claims for the week ended Dec. 5. Economists forecast 465,000 claims, up from 457,000 a week earlier. Continuing claims for the week ended Nov. 28 are expected at 5.44 million, down from 5.47 million the previous week.

The U.S. Treasury Department releases its monthly budget statement for November. A deficit of US$134.1 billion is forecast, compared with a US$176.4 billion deficit the previous month.

On Friday, the U.S. Labour Dept. forecasts a 1.2% increase, month-over-month, in the import price index in November, up from a 0.7% increase in October. A year-over-year increase of 3% is forecast, compared with a 5.7% decrease, year over year, the previous month.

The U.S. Commerce Dept. reports advance retail sales for November. Economists expect a 0.7% increase. Excluding autos, a 0.4% increase is forecast; excluding autos and gas, an increase of 0.3%.

Separately, Commerce reports on business inventories for October. A decline of 0.3% is forecast.

Corporate earnings

On Tuesday, Bank of Nova Scotia reports it fourth-quarter results..

Evertz Technologies Ltd. reports second-quarter earnings, while Reitmans (Canada) Ltd. reports third-quarter results.

On Wednesday, Laurentian Bank of Canada reports its fourth-quarter earnings.

On Thursday, Empire Co. Ltd. reports its second-quarter earnings.

Gildan Activewear Inc. reports fourth-quarter results.

North West Company Fund reports third-quarter earnings.

IE