Canada: Economy likely to have grown by 3.5% in Q2 - TDS

Analysts at TD Securities point out that the Canadian Q2 GDP will be released alongside industry-level growth for June at 8:30 ET and will be a key economic release for today’s session.

Key Quotes

“TD looks for the economy to grow by 3.5% in Q2 (market: 3.1%) on a surge in exports and a pickup in household consumption, offset by weaker residential investment.”

“For industry level growth we are on consensus for a 0.1% m/m advance, setting up for a return to trend-like growth in Q3.”

“Payrolls (SEPH) employment for June will be released alongside GDP while CFIB small business optimism for August will round out the data calendar.”