Canada: GDP likely to stay flat in February - NBF

According to analysts at National Bank Financial, for the Canadian markets, the release of February GDP data will attract the most attention.

Key Quotes

“Positive contributions are expected from the retail and the wholesale sectors based on previously-released reports for these indicators.”

“That said, these contributions were likely offset by a poor showing in the manufacturing sector judging from already-reported shipments. If falling home sales in the month are any guide, real estate could also have acted as a drag. All told, we expect GDP to come in flat in the second month of the year, following a healthy +0.3% print the month before. Markit’s Manufacturing PMI for April will also be available this week.”