Canada GDP Growth Outpaces Forecasts in May, June Estimate Positive
Canadian GDP rose 0.3% in May, beating expectations, with a preliminary estimate pointing to 0.2% growth in June. RBC economists see a solid Q2 rebound.
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Royal Bank of Canada economists Abbey Xu and Nathan Janzen highlighted that Canada’s monthly GDP increased by 0.3% in May, surpassing market forecasts. An advance estimate for June suggests a further 0.2% expansion.
The back-to-back gains signal a robust recovery in the second quarter following a sluggish winter period. The data reinforces expectations that the Canadian economy is regaining momentum.
Source: FXStreet Forex News