Free Trial

2Q Real GDP +3.7% Annualized, Beats.....>

CANADA DATA: 2Q Real GDP +3.7% Annualized, Beats Expectations
- MNI Median +3.1%; Bank of Canada projection +2.3%
- 2Q GDP gains were almost entirely driven by trade
- Exports (+3.2% q/q) showed broad gains, led by energy (+5.9%)
- Imports -1.0% q/q while terms of trade became more favourable
- Household spending +0.1% q/q vs. +0.7% prior on cars (-1.4%)
- Households increased saving +1.7% as disposable income +1.3%
- 2Q Housing investment +1.4%, first gain after 5 declines
- Non-residential capex -4.3% q/q
- June GDP +0.2% vs. +0.1% MNI Median, the 4th consecutive gain
- Growth in 17/20 sectors more than offset a big manufacturing 
(-1.4% m/m) decline
- June wholesale trade +0.9%, retail +0.6%
- Goods +1.1% while services +0.8% in June
- The gain in services was the largest since 2Q 2017
- IPPI -0.3% in July as China banned Canadian meats

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.