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OUTLOOK: GDP, Mfg PMI and Bills

CANADA
  • 0800ET GDP for Nov (cons +0.4% M/M from +0.8%)
  • 0930ET Markit Mfg PMI for Jan
  • Bill issuance: C$2.25B of 182-day (1030ET), followed by C$6B 98-day and C$2.25B 364-day (1040ET).
  • RBC see real GDP up +0.3% M/M in Nov as B.C. floods weighed on transportation, and expect similar for the early estimate for Dec. “This would cap off Q4 growth at around 6% annualized, and leave output in 2021 4.6% higher on average than the year before, similar to the BoC’s latest estimate in January”

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