Canadian GDP up 1.3% in Q1 but with stronger details

The 1.3% increase in GDP in Q1 was a bit softer-than-expected — both by markets and the Bank of Canada who it turns out could have stuck with their 1.3% call from January rather than hinting at some upside risk in yesterday’s policy rate announcement. Notwithstanding the headline miss, though, details were relatively solid. On a monthly basis, weakness was concentrated in January with March output rising 0.3% after a 0.4% February gain to leave stronger momentum entering the second quarter. Final domestic demand rose a solid 2.1% in Q1, led by a big 10.9% jump in business investment. Residential investment fell 7.2%, but that was expected given the big drop in home resales earlier this year. Consumer spending rose just 1.1% on a quarter-over-quarter basis but was still up almost 3% from a year ago.

View Full Report about Canadian Q1-2018 GDP

 

Recent Updates

Release Date Report Name Download
Report Name Download

Free Economic Alerts

Receive an email alert as soon as this publication goes live on the RBC Economic Research site. This free service is reserved for RBC clients and staff.

Subscribe Now to Free Economic Alerts