Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Economists see Canadian soft landing even without jumbo rate cuts

The Bank of Canada will be able to pull off a soft landing for the country’s economy without resorting to half-point interest rate cuts, analysts say.

Taking the pulse of Canadian business: 5 of the most interesting things we learned this quarter

Each quarter, the Business Data Lab releases the Canadian Survey on Business Conditions (CSBC) report, which takes the pulse of businesses across the country. This quarter’s good news: the Bank of Canada is increasingly winning the war against inflation, as we saw last week when inflation finally reached the 2% target. Canada’s economy is still growing at a moderate pace, and despite a slowdown in hiring, businesses expect a “soft landing” for the labour market, with employment growing modestly over the next three months. Here are five of the most interesting findings from the latest edition of the CSBC report

Despite short-term dip, business sentiment for Canada at highest level in almost 3 years:

There’s been a slight dip among Canadian employers when it comes to business sentiment for the next three months, according to a report from the Canadian Chamber of Commerce.

Canada’s benchmark stock index closes above 24,000 for first time

The S&P/TSX Composite Index, Canada’s stock market benchmark, rallied to close above 24,000 points for the first time Thursday as China’s stimulus plans boosted shares in base metal providers.

Is the CRA doing a good enough job? The agency wants to hear from you

The Canada Revenue Agency wants to hear from Canadian taxpayers on how it can improve its services and “do better.” CRA launched public consultations calling on individuals, non-professional representatives, and tax intermediaries to give feedback on the agency’s programs and services.

Canada’s inflation rate finally hit the Bank of Canada’s target. What does that mean for prices?

Even as the Bank of Canada has hit its target, Canadians might not be feeling the impact of lower inflation when they’re shopping for groceries or other goods. “The bank isn’t targeting for prices to come back down to where they were pre-pandemic or [before] that big inflation period. What they’re really looking for is, going forward, to have inflation stabilized,” Pedro Antunes, chief economist at the Conference Board of Canada, said.

Canada’s business dynamism in a post-pandemic slump

Business dynamism is a critical part of a vibrant economy as it ties closely to competitiveness, innovation, and productivity growth. Business dynamism is measured by the rates at which firms enter the market, grow, and leave the market. Canada’s business dynamism is struggling to get back on its feet post-pandemic. Business dynamism was already on a downward trajectory before COVID-19, and now a slow rate of business entries and a rise in bankruptcies has revealed dynamism remains weak.

What’s behind the global self-storage boom?

Storage companies are snapping up vacant commercial spaces abandoned after the pandemic. Meanwhile, as rents rise, consumers and business are looking for cheaper storage options. In Canada, 16 new facilities opened their doors last year, adding an extra one million sq ft of space. Rents are up too – by an average of 12% from 2023 – according to StorTrack, who track industry data.

Number of Canadian businesses fell by most since pandemic in June

The number of active Canadian businesses fell by the most since the Covid-19 pandemic in June. About 5% of firms closed their doors that month, according to a report released Thursday by Statistics Canada. That’s the highest closure rate since the same month in 2020, the agency said.

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