First Quarter Canadian GDP Was Stronger Than Expected Pushing the BoC Closer To Rate Hikes

May 31, 2023

The Canadian economy continues to show marked resilience to high-interest rates. Statistics Canada released data this morning showing real GDP rose at an above-consensus 3.1% annual rate in the first quarter of this year. The estimate for April growth was also firm, a harbinger of continued strength in Q2. The combined drags of the public sector strike and the Alberta wildfires didn’t cause […]

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