The Week Ahead: Key Economic Events to Watch for December 22 – 26, 2025

As the year comes to an end, markets will focus on several high-impact economic releases that could shape sentiment and currency movements. Key data from Canada and the United States will offer fresh insight into economic growth and labor market conditions, while a limited set of corporate earnings will provide additional company-level signals. Together, these events will help investors gauge the underlying strength of the North American economy heading into year-end.

High Impact Economic Events

Tuesday 15:30 (GMT+2) – Canada: GDP m/m (CAD)

Tuesday 15:30 (GMT+2) – USA: Prelim GDP q/q (USD)

Wednesday 15:30 (GMT+2) – USA: Unemployment Claims (USD)

Tuesday, December 23

15:30 – Canada: GDP m/m (CAD)

Gross Domestic Product (GDP) is a key measure of a country or region’s economic output. It represents the total value of goods and services produced, minus intermediate consumption, such as raw materials or components. GDP can be calculated using methods such as the value-added approach, which looks at the contribution of each sector to the economy. When GDP grows, it indicates economic expansion, while a slowdown or negative GDP may signal a recession. It’s used as a benchmark for the overall health of an economy.

The economy grew slightly in September, with GDP rising 0.2%, reversing the small decline seen in August. The increase was mainly driven by goods-producing industries, particularly manufacturing, which showed stronger activity. Services also expanded, but only marginally. In total, 10 industries recorded growth, pointing to a modest but fairly broad-based improvement in economic activity.

Economists expect the next report to show a 0.3% contraction.

15:30 – USA: Prelim GDP q/q (USD)

The Gross Domestic Product q/q (GDP) represents the valuation of all goods and services produced in the United States in the current quarter compared to the previous one. GDP growth may have a positive effect on the US dollar quotes.

Although these are quarterly figures, they are presented in an annualized form. GDP is published in three stages—Advance, Preliminary, and Final. The Advance release comes first and typically has the strongest market impact.

Economists expect the next report to show US GDP grew at an annualized rate of 3.2%.

Wednesday, December 24

15:30 – USA: Unemployment Claims (USD)

An initial claim is filed by an unemployed individual seeking eligibility for unemployment insurance after leaving a job. This count serves as a leading economic indicator, reflecting labor market conditions.

New claims for unemployment benefits fell in mid-December, suggesting some improvement in the labor market. Initial claims dropped to 224,000, down from the previous week, although recent figures were slightly revised. The overall trend was little changed, with the four-week average edging higher.

Meanwhile, the unemployment rate for people continuing to receive benefits held steady at 1.2%. The number of continuing claims increased, indicating that while fewer people are newly losing jobs, some are taking longer to find new work. Overall, the data point to a stable but not significantly improving labor market.

Economists expect 220,000 jobless claims.

Company Earnings (December 22- 26)

Monday, December 22: DJCO (Daily Journal Corporation)

Monday, December 22: EBF (Ennis, Inc.)

Wednesday, December 24: SCS (Steelcase Inc.)

Conclusion

Overall, the upcoming data will provide important clues about how the Canadian and US economies are closing out the year. Growth figures and labor market updates may influence expectations for early-2026 economic momentum, while corporate earnings will offer a brief snapshot of company performance. With markets typically thinner around the holidays, even modest surprises could have an outsized impact on price action.