Canadian Chamber of Commerce Business Data Lab SME Institute

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Businesses Brace for More Uncertainty: Key Findings from Business Insights Quarterly (Q2 2025)

As 2025 progresses, Canadian businesses — especially goods exporters — face mounting headwinds.
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Economic Commentary

Jul 15, 2025

June 2025 CPI: Base-effects bring inflation up to 1.9%, with underlying price pressures mounting.

Canada’s inflation rose from 1.7% in May to 1.9% in June, as base-effects from lower gasoline prices and higher vehicle prices lead the increase in June. Overall, prices are trending higher and excluding indirect taxes (i.e. carbon tax), inflation is now at 2.5%.
Economic Commentary

Jul 11, 2025

Labour Force Survey June 2025: Canada’s job market remains surprisingly resilient

June recorded the highest gain in employment (+83k, +0.4%), the first net employment gain since January 2025.  Employment rate rose by 0.1percantage points to 60.9% and unemployment rate is down by 0.1 percentage points to 6.9%.
Economic Commentary

Jul 03, 2025

Merchandise Trade May 2025: Headline rebound masks underlying softness

Canada’s merchandise exports rose 1.1% in May, largely driven by a record surge in gold exports, while imports fell 1.6%, and the overall trade deficit narrowed from $7.6 billion in April to $5.9 billion in May.
Economic Commentary

Jun 27, 2025

April 2025 GDP: The shoe drops as the economy shows trade impacts.

Real gross domestic product dropped 0.1% in April, below expectations of flat growth.
Economic Commentary

Jun 24, 2025

May 2025 CPI: Inflation holds steady, giving the Bank of Canada some space to breathe.

Canada’s headline inflation held steady at 1.7% in May, matching economists’ consensus of 1.7%. The primary driver was lower gasoline prices due to the removal of the federal carbon tax.

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