Preliminary figures for Canadian corporate profits show a flat performance in Q1, 2012 compared to Q4, 2011. Half – 11 of 22 industries – posted increased profits. Transportation and warehousing, construction and retail trade showed gains. Manufacturing and the information and cultural industries saw declines.
The number of Canadians receiving, or applying for, Employment Insurance remained flat in March. Just over 549,000 people continue to receive benefits while 234,000 made initial or renewal claims.
First time jobless claims in the U.S. held steady last week raising concerns that employment growth may have stalled. Claims were down by about 2,000 to 370,000, from a revised 372,000 the previous week. The number of people on unemployment benefit rolls and those receiving extended payments dropped.
April durable goods orders in the U.S. edged up just 0.2%, falling short of expectations. The Commerce Department revised the March figures to show a 3.7% drop. Sharp declines in machinery and military aircraft orders are getting the blame. On-going manufacturing slowdowns in Europe and China are seen as hampering U.S. expansion.
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