Canada: Focus on GDP data this week - NBF

Sandeep Kanihama FXStreet Contributor

In Canada, the release of April GDP data will attract the most attention and a positive contribution is expected from the mining sector but it should be largely offset by a poor showing in the manufacturing sector (based on shipments), according to analysts at NBF.

Key Quotes

“Both residential construction and the finance/real estate sector likely weighed on growth on account of lower starts and decreasing home sales. All told, we’re expecting GDP growth to have slowed to a halt in the month following a +0.3% print in March. The summer edition of the Bank of Canada’s Business Outlook Survey will be released, along with Senior Loan Officer Survey for Q2.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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