Published: 2026-07-15T17:02:58.000Z
Preview: Due July 31 - Canada May GDP - Heading for a healthy Q2
1
We expect May GDP to increase by 0.1%, in line with a preliminary estimate made with April’s report, which showed a strong 0.5% increase.
We expect a 0.2% increase in services, in line with recent trend, supported by gains in finance/insurance and real estate/rental/leasing, as signaled with April’s report. We expect a 0.2% decline in goods in a correction from a 1.2% April bounce despite a likely modest increase in manufacturing.
We expect the preliminary estimate for June GDP to also increase by 0.1%. That would leave Q2 GDP heading for around 2.5% annualized, as estimated by the Bank of Canada in its July Monetary Policy report.
