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Weekly Economic Perspectives

Small Cracks in US Labor Market Will Widen, Not Heal

Chief Economist
Investment Strategist

The Economy

  • US unemployment claims tick higher.
  • Canadian inflation moderates further.
  • UK price and wage inflation remain elevated.
  • Eurozone manufacturing contracts but services rebound.
  • Japan’s inflation eases but price pressures remain.
  • The RBA minutes were more hawkish than expected.

Spotlight On Next Week

  • First-quarter growth might be best of the year in US. 
  • Canada’s GDP may have stalled in February.
  • Incremental first-quarter growth expected in the “big-3” eurozone economies.
  • BoJ to stand pat but expect higher CPI forecasts.
  • Aussie CPI to ease and comfort the RBA.

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