Published: 2024-06-27T19:31:02.000Z
Preview: Due June 28 - Canada April GDP - Modest boost seen from autos
Senior Economist , North America
1
We expect Canadian GDP to increase by 0.2% in April, slightly below a 0.3% increase projected with March’s unchanged outcome. The data is expected to be supported by recovery in autos which saw restraint in March from retooling in Ontario.
Weakness in autos restrained manufacturing and wholesale data in March, taking around 0.1% off GDP. A reversal in manufacturing and wholesale and a similar picture elsewhere would lead to a gain of 0.2%.
Mining is also projected to have a strong month in April but this may be offset by projected weakness in utilities. Yr/yr growth of 1.0%, up from 0.7% in March, would be the strongest since June 2023, but still quite subdued.
