It’s a quiet week for Canadian economic data and earnings releases, but the full U.S. docket will more than make up for it.
On Tuesday, Statistics Canada releases retail sales figures for January. Economists expect a 1.4% rise from the previous month. Excluding automobiles, an increase of 0.5% is forecast.
South of the border
On Monday, the U.S. National Association of Realtors releases existing home sales data for February. Sales are expected to decline 0.8% to 4.85 million on an annualized basis.
On Wednesday, the U.S. Department of Commerce reports on durable goods orders for February. Economists predict an increase of 0.8%.
Separately, Commerce reports on new home sales in February. Sales are predicted to drop 2% to 576,000 homes on an annualized basis.
On Thursday, the U.S. Commerce Department issues final figures on fourth-quarter gross domestic product. Economists expect an annualized increase of 0.6%.
Meanwhile, the U.S. Labour Department reports initial jobless claims for the week ended March 22. Economists are forecasting 370,000 claims.
On Friday, the U.S. Commerce Department releases personal income and spending data for February. Economists expect incomes to have risen 0.3% while personal spending is forecast to have grown 0.1%.
As well, the University of Michigan issues its final index of consumer sentiment for March. Economists expect a reading of 70, down marginally from 70.5 in February.
Corporate earnings
Canadian and U.S. companies scheduled to report quarterly earnings in the coming week include:
- Tiffany & Co.;
- Walgreen Co.; Connors Bros. Income Fund; Yamana Gold Inc.; Oracle Corp.; Eldorado Gold Corp.; GBS Gold International Inc.; Whiterock REIT; and Iamgold Corp.