The latest interest rate decision by the U.S. Federal Reserve and Canada’s jobs numbers for April are the highlights of this week’s economic data.

On Monday, Statistics Canada reports on building permits issued in March. Economists expect a 5% increase over February.

On Tuesday, StatsCan reports on housing starts for April. Economists expect annualized starts of 215,000 units.

On Wednesday, the government agency releases data on foreign direct investment for 2006.

On Thursday, StatsCan releases its new-housing price index for March. Economists expect a rise of 0.4% over February.

Separately, StatsCan reports on Canadian international merchandise trade for March. Economists expect a trade surplus of $5.5 billion, up from $4.8 billion in February.

On Friday, Statistics Canada releases labour force survey for April. Economists expect a net increase in employment of 19,000; the unemployment rate is forecast to remain at 6.1%.

South of the border

On Wednesday, the U.S. Federal Open Market Committee meets on interest rates and issues policy statement. The federal funds rate is expected to remain unchanged at 5.25%.

On Thursday, the U.S. Commerce Department reports on the trade balance for March. Economists expect the U.S. trade deficit to have grown to US$60 billion from $58.4 billion in February.

The U.S. Department of Labor reports on initial jobless claims for the week ending May 5.

Overseas, The Bank of England Monetary Policy Committee announces interest rate decision.

On Friday, the U.S. Department of Commerce releases its retail sales report for April. Economists forecast an increase of 0.4% over March.

The U.S. Department of Labor releases its producer price index for April. Economists expect an increase of 3.1% over April, 2006.

Corporate earnings

The quarterly earnings parade continues this week. Among the fincancial services companies scheduled to report are: GMP Capital Trust; CI Financial Income Fund; and Power Financial.

Other companies to report results include:

  • Abitibi-Consolidated;
  • ShawCor;
  • Magna Entertainment;
  • Talisman Energy ;
  • ARC Energy Trust;
  • Extendicare REIT;
  • Finning International;
  • Peyto Energy Trust;
  • Yellow Pages Income Fund;
  • Axcan Pharma;
  • Bonavista Energy Trust;
  • Canadian Tire;
  • Linamar;
  • Onex;
  • Power Corp.;
  • Uni-Sélect;
  • Cascades;
  • MI Developments; and
  • H&R REIT.