US$460B of investment opportunities were highlighted at the inaugural Canada Investment Summit…

… spread across 167 projects and 8 major sectors, with natural resources doing the heavy lifting at nearly half of the total.

While it looks like we’re ready to embrace our core strengths, capital is a constraint and diversifying sources was on the agenda…

… given 46% of Canadian FDI came from south of the border last year. Business investment tax cuts should sweeten the deal for foreign capital…

… with Carney’s “productivity mega deduction” driving the marginal tax rate to 6.4%, well below the OECD average. Let’s see what follows.

Headline inflation of 3% was in line with expectations, holding steady versus July…

… on modest changes at the category level, with gains in recreation and shelter offsetting a sequential slowdown in transportation and food inflation.

While gas price growth moderated in August, a steady rise in crude oil prices through September should add upward pressure to the next print…

… but the drag from food could be persistent, with grocery inflation coming in below the headline number for the first time in two years (dairy driven).

Job vacancies held steady at 510K to end Q2, keeping the unemployment-to-vacancy ratio stuck at 3x…

… as lower public sector job openings were offset by gains in the trades.

While there’s been improvement, the backdrop has led to a steadily decreasing share of long-term job vacancies…

… as job seekers become price takers, driving continued pressure on wage growth.

Manufacturing sales of $79B in July fell slightly, with a 7% decline in chemicals driving the first down month in the last six…

… while the trend continues in inventory, which built for the seventh straight month on the back of a 3% rise in computer and electronic products…

… and in order backlog, which posted a six straight gain driven by fabricated metal products, aerospace parts, and machinery.

Evertz Technologies (ET) shed 13% on the back of its Q1 results, which were in line on revenue but missed big on margins…

… given nearly all of its growth came from the less profitable international segment. The backlog stepped up 9% sequentially…

… with the help of government contracts, which could shift the composition of growth back towards North America and help the stock find some support.

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