Analysts at TD Securities suggest that Canada’s industry-level GDP and the Bank of Canada’s Business Outlook Survey (BOS) will be under the spotlight ahead of the July meeting.
Key Quotes
“TD looks for a 0.1% decline in April GDP (market: unch.), though weather and other one-offs will weigh on the headline print.”
“The BOS will be published at 10:30 and provide an update on business conditions. However, we would note that most of the survey consultations took place ahead of the G7 and escalation in trade rhetoric.”
“Factory prices for May will round out the data calendar and TD is on-consensus for a 0.9% m/m increase.”
“The Canadian government will also provide an update on tariff retaliation and measures to support local industry on Friday, two days before tariffs are imposed on July 1st.”
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