Canadian Q1 GDP increased 0.4% but details stronger

Details were firmer and a 0.5% surge in March GDP bodes well for a return to stronger growth rates in Q2. Much of the softness in Q1 can still be traced to disruptions to oil & gas activity in the wake of lower prices last year and mandated production cuts in Alberta. Excluding the oil & gas sector, output rose by ~1½% in Q1 and that was despite a big weather-related dip in output in February. A 0.5% surge in GDP on a monthly basis in March is right in line with calls for a pickup in growth in Q2 – leaving if anything some near-term upside risk to our own call for a 2.2% increase

View Full Report about Canadian Q1 2019 GDP

 

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