TD Securities analysts point out that Canada’s industry-level GDP rose by 0.2% in May, in line with TD’s forecast and slightly above the market consensus for a 0.1%. Key Quotes “As expected, the goods-producing sector provided the main driver for growth with a 0.6% increase, helped by a rebound in motor vehicle production. Motor vehicle manufacturing rose by 9.2% in May – a full recovery from the April shutdowns – and contributed roughly 0.07pp to the headline print, while ex-auto manufacturing contributed another 0.05pp.” “Today’s report marks the third consecutive beat on monthly GDP for the first time since early 2018, and pushed our tracking for Q2 growth further above BoC projections to 3.0% (BoC: 2.3%). However, the BoC sought to downplay the strength of Q2 growth in the July MPR, describing it as temporary, and is unlikely to change its tone after a few data prints given the focus on external trade risks.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD surges beyond 1.2200 handle, fresh session tops ahead of FOMC FX Street 4 years TD Securities analysts point out that Canada's industry-level GDP rose by 0.2% in May, in line with TD's forecast and slightly above the market consensus for a 0.1%. Key Quotes "As expected, the goods-producing sector provided the main driver for growth with a 0.6% increase, helped by a rebound in motor vehicle production. Motor vehicle manufacturing rose by 9.2% in May - a full recovery from the April shutdowns - and contributed roughly 0.07pp to the headline print, while ex-auto manufacturing contributed another 0.05pp." "Today's report marks the third consecutive beat on monthly GDP for the first time since early… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
