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PREVIEW: July GDP Seen +3%, Affirming Q3 Recovery is Starting

CANADA DATA
(MNI) OTTAWA
  • MNI Median matches StatsCan's earlier Flash estimate
  • GDP was +6.5% in June, +4.8% in May, -11.7% in April
  • Economists surveyed by MNI see Q3 around +40% annualized after similar decline in Q2
  • Advance reports on July showed gains in manufacturing, wholesales, job market
  • Even 3% gain would leave GDP 6% below pre-pandemic mark, National Bank Financial says
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

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