September 2023 Market Update from Canada Life Investment Management
A slowing Canadian housing market and U.S. economy
Canada’s housing market is showing signs of slowing, with sales of existing homes falling by 4.1% in August. But prices continued to climb, likely due to short supply.
Housing market indicators also fell in the U.S., where economic growth dropped at a relatively sharp pace over August. This drop in activity, along with declining consumer consumption, points to a third-quarter slowdown.
Read the full market commentary on canadalifeinvest.ca, including the following topics:
- Canada’s housing market showing signs of slowing
- U.S. economic growth under pressure
- U.K. inflation cooler than expected
- OPEC expects growing demand for oil
