Budgets/Spending/Market Size

The Trudeau Liberals sought Friday to get ahead of growing economic concerns linked to rising COVID-19 case counts, vowing new and revamped business supports to keep workers on payrolls and maintain job gains threatened by the pandemic's second wave.The government plans to provide direct rent support to commercial tenants at a projected cost of $2.2 billion through the end of the year, rather than flowing the money through landlords who were not keen on a previous version of the program.A wage subsidy program will cover up to 65% of eligible costs through December, costing the treasury $6 billion over that time, and $11 billion more to a well-used loan program by providing an added $20,000, half of which would be forgivable.Even though many businesses have reopened, a number are not at full capacity while others worry about surviving a second wave.

A Halloween night that falls on both a Saturday and a full moon would normally be ideal for spooky festivities, driving up sales of candy, costumes and decorations.But with cases of COVID-19 on the rise, experts expect retailers to see soft demand for Halloween supplies as plans are scaled back and trick-or-treating is questioned altogether.They add that sales related to the spooky celebration may also serve as an indicator for what retailers can expect this Christmas, the largest shopping season of the year.Farla Efros, president of HRC Retail Advisory, says Halloween is a significant portion of business for many retailers and candy makers.She says the lack of gatherings, office parties and trick-or-treating could lead to soft sales for retailers from grocers to specialty Halloween pop-up stores.Retail analyst Bruce Winder says families and friends might plan their own ``bubble Halloween'' like a backyard celebration or scary movie night.He says while people will still buy some candy, decorations and costumes, it likely won't be as profitable a season as usual for retailers and candy manufacturers.

Retail sales in Canada “hit a wall'' in July after big gains in May and June, a sign that the economic recovery could be slow and bumpy.Statistics Canada said Friday overall retail sales in July rose 0.6% to $52.9 billion, helped by higher sales at motor vehicle and parts dealers and gasoline stations, after posting gains of more than 20% in both May and June.However, core retail sales, which exclude those two sectors, fell 1.2% in July, with building material and garden equipment sales dropping 11.6%.

Developing countries' difficulty in containing the spread of the coronavirus pandemic will keep a lid on global oil demand, particularly in India, the OPEC cartel said Monday as it cut its forecasts.

The Canadian Fuels Association (CFA) has announced that Peter Boag is retiring and has stepped down as president and CEO of the trade group.

Statistics Canada says capital spending in the country's oil and gas sector fell by 54 per cent in the quarter ended June 30 as numerous producers chopped budgets amid sliding global oil prices.

The national statistics agency is readying a new online tool designed to help Canadians track the impact of price changes on their spending during the pandemic.

Canadian consumers flocked to online shopping as the measures to combat the COVID-19 pandemic were enacted, according to a Statistics Canada report.