"This would mark five consecutive months of growth from the pandemic low set in April, leaving the index 3 per cent below February's peak," said
Almost all indicators that make up the index continued to support the rebound in August. Hours worked posted another solid 2.9 per cent gain as the job market recovery progresses. The upside-surprise in housing continued, with sales and starts both rising strongly in August, though momentum began to ebb in September. But, manufacturing sales fell after a strong run (we await August readings on wholesale and retail trade). Sentiment measures from the CFIB and equity market remained supportive, but business credit growth was soft again in August.
"The Canadian economic recovery continues, with business activity improving again in August," noted
The BMO BAI is compiled from ten monthly indicators, with supporting information from
Today's BMO BAI report can be found at
https://economics.bmo.com/en/publications/detail/bbd6fba1-821b-49f8-881e-da0e867ff811/.
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Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $974 billion as of July 31, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking,
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