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Canadian Q2 GDP is tracking at about 1%

Today's May Canadian GDP report met expectations at +0.3% but the advance estimate for June was -0.2%. With that, CIBC calculates that growth in the quarter is tracking close to 1.0%, less than the 1.5% assumed in the latest Bank of Canada estimates. Some of that was due to a drag from forest fires and a public sector strike, so underlying momentum and a rebound should aid Q3.CIBC writes:With today's data suggesting that growth was a little weaker than the Bank of Canada's MPR projection in Q2,... Read More

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Posted: Jul 28 2023, 17:25

Author Name: forexlive

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