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US Existing Home Sales Match Forecasts in August
Confirmed
In Short: US existing home sales in August remained stable, matching forecasts, according to reports.
US existing home sales in August matched forecasts, coming in at 3.98 million units, according to reports.
Meanwhile, Canada experienced a significant job loss, with the country losing nearly 42,000 jobs in August, against forecasts for a 15,000 gain, as the unemployment rate stayed at 6.4%.
The August Labour Force Survey highlighted declines in four industries, with business and building support services leading the fall by 20,000 jobs, while manufacturing saw a gain of 22,000 jobs, mostly in Ontario.
The Bank of Canada maintained its interest rate at 2.25%, citing an improved labour market, subdued demand, and excess supply, but the August Labour Force Survey indicated a different narrative, confirming subdued demand and taking back a portion of the improved labour market claim.
What's confirmed
- US existing home sales in August matched forecasts, coming in at 3.98 million units, according to reports.
- Meanwhile, Canada experienced a significant job loss, with the country losing nearly 42,000 jobs in August, against forecasts for a 15,000 gain, as the unemployment rate stayed at 6.4%.
- The August Labour Force Survey highlighted declines in four industries, with business and building support services leading the fall by 20,000 jobs, while manufacturing saw a gain of 22,000 jobs, mostly in Ontario.
- The Bank of Canada maintained its interest rate at 2.25%, citing an improved labour market, subdued demand, and excess supply, but the August Labour Force Survey indicated a different narrative, confirming subdued demand and taking back a portion of the improved labour market claim.
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