CAD: GDP expected to advance by 0.4% m/m for July - TDS

Research Team at TDS, suggests that Canada’s industry-level GDP is forecast by TD to advance by 0.4% m/m for July while the market looks for 0.3% print.

Key Quotes

“While activity data for the month was mixed, both retail and manufacturing sales were quite strong on a volumes basis and we also saw a much needed rebound in exports. Furthermore, we believe that there is more to the recovery following the May wildfires, which should provide an additional tailwind to growth.

Also on the calendar are industrial and raw material prices for August; markets looks for a 0.1% m/m decline on industrial prices while raw input prices should fall 1.0% m/m.”