Five Canadian business stories to watch this week

COVID's economic impact

Markets

Investors will have their eye on the stock markets this week as the summer as Bay St. slows down in the wake of the second-quarter reports from Canada's big corporate names. Stocks have been charging ahead since hitting their lows at the end of March and many investors may be wondering how much gas is left in the tank as the economy is still a far cry from its pre-pandemic self.

Home sales

The Canadian Real Estate Association is expected to report home sales figures for July on Monday. Home sales, helped by low mortgage rates, have been heating up after plunging earlier this year due to the pandemic.

Inflation

Statistics Canada will release its consumer price index for July coming Wednesday. The annual inflation rate came in at 0.7 per cent in June, its first positive reading after two months of negative readings. Wholesale trade figures for June will also come the same day.

COVID-19 impact

Statistics Canada on Wednesday is set to release a report on the economic impact of the COVID-19 pandemic on Canadian businesses, covering a variety of sizes.

Retail sales

Statistics Canada will release its latest retail sales figures for June on Friday. Retail sales gained 18.7 per cent in May as shoppers ramped up spending as public health restrictions put in place to slow the pandemic eased, but were still 20.0 per cent before the February levels before the pandemic.