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MNI PREVIEW: 1Q/March GDP - Friday 8:30......>

CANADA
CANADA: MNI PREVIEW: 1Q/March GDP - Friday 8:30 EST
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- MNI median for 1Q GDP -10% (annualized rate) vs prior +0.3%
- MNI median for Mar GDP -9% vs prior 0.0%
- Health shutdowns started in mid-March, took full effect in April, suggesting
both quarters on tap to break modern-day records for contraction 
- Stats Canada nowcast release for March GDP estimated a 9% decline in March and
a 2.6% QoQ (non-annualized) decrease, on COVID-19 
- Economists projecting annualized GDP -40% or more in 2Q. Rebound of around 40%
possible in 3Q as economy re-opens

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