Canada: GDP expected to print at 0.4% m/m in May

Analysts at TD Securities suggest that Canada’s industry-level GDP is expected to print at 0.4% m/m in May (mkt: 0.4%) on the heels of a broad pickup in activity data and the unwind of one-offs that weighed on April’s report.

Key Quotes

“This would leave Q2 growth tracking near a 3% pace, slightly above Bank of Canada projections. Industrial prices for April will be released alongside GDP and we look for a 0.4% increase, slightly above the market consensus for 0.2% m/m.”

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