Canada: GDP growth is forecast to slow to 0.2% in April - TDS

Sandeep Kanihama FXStreet Contributor

According to analysts at TD Securities, US monthly GDP growth is forecast to slow to 0.2% in April on the heels of a 0.5% increase the prior month.

Key Quotes

“A moderation in services will provide the main driver, as further gains to energy output and strong residential construction drive continued strength in goods-producing industries. This will offset a modest drag from manufacturing, owing to a one-off in auto production, while utilities output is also expected to edge lower.”

“Services will benefit from a rebound in real estate although weaker retail activity will weigh on the sector. However, a 0.2% headline print should provide some comfort to policymakers concerned over global headwinds, and keep Q2 GDP tracking well above the Bank of Canada's 1.3% projection from April.”

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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