Canada: Industry-level GDP likely to increase 0.3% in April - TDS

Analysts at TD Securities suggest that they have revised their forecast for the Canada’s industry-level GDP and now look for a 0.3% m/m increase for April, slightly above the market consensus for 0.2%.

Key Quotes

“The goods-producing sector should provide the main driver, underpinned by a further recovery in crude oil production and strong residential construction. Meanwhile, the 0.5% handoff from March should leave Q2 GDP tracking well above BoC estimates from April.”

“The Bank of Canada's Summer Business Outlook Survey (BOS) will be published shortly afterward at 10:30 ET. The BOS should offer a more cautious tone due to increased trade tensions which will weigh on the balance of opinion around business investment and future sales.”