Free Trial

Outlook: GDP February Flash Watched

CANADA
  • Data: GDP for January, expected +0.2% M/M after 0% in Dec with annual rate down from 3.9% to 3.6% as Omicron hit. Judging by the stellar February jobs print, CIBC expect considerably firmer growth in the Feb flash released at the same time (along with US core PCE inflation).
  • Recap: Today’s CFIB business barometer showed higher expected average price and wage changes although labour shortages are off previous highs. The number of firms seeing business conditions as good at 34% is the highest since Dec but 3-month capex intentions fell.
  • Ontario is to raise its tax on foreign purchases of residential real estate from 15% to 20%, with the levy expanding from Toronto and its surrounding cities to the entire province.
  • The planned 42% cut in oil & gas emissions from current levels by 2030 contrasts to the Oil Sands Pathway Alliance (90% of northern Alberta’s oil sands production) targeting a 32% cut by 2030.

To read the full story

Close

Why MNI

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.