×
51 775
Fashion Jobs
ABERCROMBIE AND FITCH CO.
Asset Protection Investigator
Permanent · Concord
OLD NAVY
Asset Protection Lead - Outlts @ Little Rock
Permanent · Little Rock
OLD NAVY
Assistant General Manager, Merchandising - Northcross
Permanent · Huntersville
OLD NAVY
External Asset Protection Lead - Franklin Park
Permanent · Toledo
OLD NAVY
General Manager - Four Flaggs
Permanent · Niles
OLD NAVY
Assistant General Manager, Merchandising - Crossings of Decatur
Permanent · Decatur
OLD NAVY
Assistant General Manager - Festival Mkt@Dogwood
Permanent · Flowood
OLD NAVY
General Manager - Barrow Crossing
Permanent · Bethlehem
OLD NAVY
Asset Protection Service Representative -Sports Arena Plaza
Permanent · San Diego
OLD NAVY
Buyer, Girl's, Outlet
Permanent · San Francisco
OLD NAVY
Asset Protection Agent - Fulton Street
Permanent · New York
OLD NAVY
General Manager - Franklin Park
Permanent · Spokane
OLD NAVY
Assistant General Manager, Merchandising - Brickyard Square (New Store)
Permanent · Epping
OLD NAVY
Assistant General Manager - Eagan Promenade
Permanent · Eagan
OLD NAVY
General Manager - Conyers Crossroads
Permanent · Conyers
OLD NAVY
Asset Protection Manager - Utah
Permanent · Salt Lake City
OLD NAVY
Assistant General Manager, Merchandising - Bradford Plaza
Permanent · Stillwater
OLD NAVY
General Manager - San Diego
Permanent · San Diego
OLD NAVY
Assistant General Manager, Merchandising - Midtown Village
Permanent · Tuscaloosa
OLD NAVY
Vice President - Technical Design, Fabric R&D & Quality
Permanent · San Francisco
OLD NAVY
Program Manager, Digital Production
Permanent · San Francisco
OLD NAVY
Asset Protection Agent - Keizer Station
Permanent · Keizer
By
Reuters
Published
Jun 5, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Wary Canadians start spending as Covid-19 restrictions ease, boosting economy

By
Reuters
Published
Jun 5, 2020

​The Canadian economy is showing green shoots with data on home sales, consumer spending and new job postings trending upwards after the coronavirus pandemic forced shutdowns and caused a record plunge in economic activity.


Reuters


The Bank of Canada held its key interest rate steady on Wednesday, noting the impact of Covid-19 appears to have peaked and saying it now expects the Canadian economy to resume growth in the third quarter.

The bank’s more positive tone boosted the Canadian dollar to a three-month high against its U.S. counterpart on Wednesday, while Canada’s main stock index has rebounded nearly 40% from its March low as investors bet on economic recovery.

Canada’s 13 provinces and territories have been gradually reopening their economies in recent weeks, and while the pandemic continues to weigh heavily, the picture is not as dire as it was even a few weeks ago.

Furthermore, the spread of the novel coronavirus in Canada has slowed significantly, the Public Health Agency said on Thursday.

Housing sales in Toronto, Canada’s biggest city, jumped by 55% in May from April and the average selling price gained 4.6%, though sales and listings remained well below last year’s levels. Bidding wars, too, have returned to hot neighborhoods.

Home buyer Ashleigh Patterson lost out on one Toronto home in a bidding war in late May. Two days later she snapped up another. Now she is preparing to sell her townhouse and hoping the economic rebound means it, too, will attract multiple offers.

“If you had told me two months ago you’re going to sell your home during a pandemic, I would have told you you were absolutely bonkers,” Patterson said.

Compared with late March, Canadians started spending again in May on things like rounds of golf and clothes, and they began driving more, according to an RBC economics report released this week.
There have been huge line-ups outside stores like TJX-owned Winners and Inditex-owned Zara, which recently reopened in Canada’s most populous province of Ontario, according to social media posts.

Spending on home and lifestyle products has boomed, said Karl Littler, senior vice president of public affairs at the Retail Council of Canada.

“Consumers have not been on vacation. They’re not paying commuting costs. ... And so for quite a number of Canadians there is some more disposable income in play,” he said.

Commercial transport trucks crossing into Canada from the United States each week jumped 15.6% in the third week of May from a low in early April, though volumes are still down 25% from a year earlier, according to Canadian Border Services Agency data.

New job postings were up 20% on May 29 compared with May 3, according to Indeed Hiring Lab Canada, though trends are subdued compared with last year.

The country lost a record-breaking 2 million jobs in April and the unemployment rate surged to 13% amid coronavirus shutdowns. The May jobs report is due on Friday.

© Thomson Reuters 2021 All rights reserved.