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2Q GDP Preview - 08:30 EDT..............>

CANADA DATA: 2Q GDP Preview - 08:30 EDT
- MNI Median +3.1% annualized, prior +0.4% 
- Prospects for fastest growth rate since 2Q 2017 coupled with inflation holding
at BOC's 2% target can keep a lid on calls for a rate cut Sept. 4. BOC's July
forecast was for 2.3% growth rate in 2Q
- Economy seeing short-term rebound from weakness in oil production and bad
weather that hampered exports...
- ... strength isn't expected to last, with economists saying growth rate will
be cut in half over the rest of the year
- Another sign of weakness is monthly GDP, with MNI Median +0.1% for June vs.
priors of +0.2%, +0.3% and +0.5%

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