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2Q real GDP +2.9% annualized vs +3.0%...>

CANADA DATA
CANADA DATA: 2Q real GDP +2.9% annualized vs +3.0% expected, strongest 
since 2Q17. Lrg exprt contributn (+3.7ppt): exports +2.9% q/q, lrgst 
gain since 2Q14 after +0.6% in 1Q. Hsehld consumptn +0.6% q/q vs 1Q 
+0.3% (contributn +1.5 ppt). Biz invstmnt +0.4%, slowest since 4Q16. 
Inventories had neg contributn. Hsg investmnt +0.3% vs 1Q -2.7%. Overall 
a bit stronger than BOC's 2.8% projectn, especially since 1Q ann GDP rev 
up to +1.4% from +1.3%. 
--
Jun GDP flat vs +0.1% expected. Goods -0.2%; Services +0.1%. 

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