Five things to watch for in the Canadian business world in the coming week
TORONTO – Five things to watch this week in Canadian business:
Unifor gathers: Canada's largest private-sector union holds its national convention in Ottawa from Monday through Friday. It's only the second Unifor convention since the Canadian Auto Workers and the Communications Energy and Paperworkers united. The union kicked off its latest round of contract talks with the Detroit 3 earlier this month.
Wholesale data: Statistics Canada releases its report on June wholesale sales on Monday, the only major Canadian economic data set for release this week. Analysts suggest wholesale trade may have grown again, albeit at a slower pace than in May.
Banks check in: Four of Canada's biggest banks report third-quarter results this week, starting with the Bank of Montreal on Tuesday. BMO will be followed by Royal Bank on Wednesday while CIBC and Toronto-Dominion report Thursday. Scotiabank reports Aug. 30.
Cabinet retreat: Prime Minister Justin Trudeau wraps up a cabinet retreat in Sudbury on Monday. The cabinet ministers got to work on next year's budget amid gloomy signs of a stagnant economy. They also fleshed out the so-called innovation agenda, figuring out how best the government can create jobs and spur growth.
U.S. GDP: The second estimate of second-quarter GDP growth comes this week south of the border. There's an expectation of a small downward revision in part due to June trade results that were weaker than expected.
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