CANADA DATA: Canada Q1 GDP Annualized +2.2%; Domestic Demand Falls
May-30 12:30
* * Canada Q1 annualized GDP +2.2%, above Bank of Canada's forecast for +1.8%. Increase drive...
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CANADA Q1 FLASH ANNUALIZED GDP +1.5% lags BOC +1.8%; +0.4% QOQ
Apr-30 12:30
- CANADA Q1 FLASH ANNUALIZED GDP +1.5% LAGS BOC +1.8%; +0.4% QOQ
- CANADA FEB GDP -0.2% SLIGHTLY BELOW EXPECTED ON OIL, +1.6% YOY
CANADA DATA: Canada GDP Q1 Flash +1.5% Annualized Slightly Below BOC Estimates
Apr-30 12:30
- GDP by industry +1.5% annualized for Q1, Statistics Canada said Wednesday, slightly below Bank of Canada's +1.8% estimate in April Monetary Policy Report.
- StatsCan's advance forecast for March +0.1% MOM, putting QOQ growth +0.4%.
- Increase in March supported by mining, quarrying and oil and gas extraction but gains were offset by decline in manufacturing and wholesale.
- Official Feb. GDP -0.2%, lower than the expected flat reading and following +0.4% in Jan.
- Drop in Feb largely driven by mining and oil and gas extraction, which contracted 2.8%. Bad weather and a collision in Newfoundland impacted offshore crude production.
- Coal mining -15%, largest monthly contraction since March 2022 as exports to Asia dropped. StatsCan said real estate fell 10% in Feb, the third straight decline. Industry sources have said tariff concerns hurt consumer confidence.
- Partially offsetting gains, autos +4.2%, suggesting U.S. stockpiling in anticipation of tariff action.
MNI:US Q1 EMPL COST INDEX 0.9% V Q4 0.9%
Apr-30 12:30
- MNI:US Q1 EMPL COST INDEX 0.9% V Q4 0.9%
- US Q1 EMPL COST INDEX Y/Y 3.6% V Q4 3.8%
- US Q1 BENEFIT PAYMTS 1.2% V Q4 0.8%; Q1 Y/Y 3.8%(Q4 3.6%)
