Published: 2024-03-27T13:02:40.000Z
Preview: Due March 28 - Canada January GDP - Bounce led by end of strike activity
Senior Economist , North America
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We expect Canadian GDP to increase by 0.4% in January, matching an estimate made with December’s report. This would be the strongest rise since January 2023, but the strong year ago data would still see yr/yr growth slipping, to 0.8% from 1.1%.
We expect gains of 0.4% in both goods and services output. For services the gain would come largely from rebounds from recent weakness in educational services, and to a lesser extent health care and social assistance, caused by strikes in Quebec which concluded in December.
For goods we expect gains in manufacturing as suggested by monthly data and utilities due to colder weather to outweigh declines seen in mining and construction.
