CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

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Canada May GDP To Slow After Broad-Based April Gain

CANADA DATA
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  • Statistics Canada Flash Estimate for May GDP +0.1% MOM. Increases in factories, real estate, and finance were partially offset by decreases in retail and wholesale trade. 
  • April GDP +0.3% MOM, the fastest rate since January and matching consensus
  • April GDP +1.1% YOY. 
  • Three quarters of sub-sectors grew, with the April increase led by wholesale trade as increases in motor vehicles and parts wholesales coincided with increased manufacturing and imports.
  • Construction moderated the April gain after rising the fastest since Oct 2022 in March. The sector -0.4% MOM, driven by residential construction -2.3%. 
  • The BoC said the economy is in excess supply and has room to grow without creating inflationary pressure. 
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  • Statistics Canada Flash Estimate for May GDP +0.1% MOM. Increases in factories, real estate, and finance were partially offset by decreases in retail and wholesale trade. 
  • April GDP +0.3% MOM, the fastest rate since January and matching consensus
  • April GDP +1.1% YOY. 
  • Three quarters of sub-sectors grew, with the April increase led by wholesale trade as increases in motor vehicles and parts wholesales coincided with increased manufacturing and imports.
  • Construction moderated the April gain after rising the fastest since Oct 2022 in March. The sector -0.4% MOM, driven by residential construction -2.3%. 
  • The BoC said the economy is in excess supply and has room to grow without creating inflationary pressure.