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- Canadian Q1 GDP Preview from Wells Fargo
Canadian Q1 GDP Preview from Wells Fargo
Analysts at Wells Fargo, expected a reading of 0.8% (annualized, quarter-over-quarter), in line with market consensus.
“Q4 GDP rose just 0.4% quarter-over-quarter annualized, while final domestic demand was even softer, contracting at a 1.5% pace. While employment growth has been sturdy so far in 2019, retail sales data point to still subdued consumer spending in Q1, while mixed manufacturing sales also hint at only modest improvement in investment spending. That said, higher oil prices could impart a modest positive impulse on Canada’s economic growth. The consensus is for Q1 GDP growth to rise to 0.8% quarter-over-quarter annualized, more than the 0.3% pace forecast from the Bank of Canada in its latest Monetary Policy Report.”
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