Canadian GDP for February
– Unrounded reading was -0.148%
– Estimates ranged from -0.5% to +0.2%
– GDP +1.5% y/y
– Jan GDP revised to +1.6% y/y from +1.5%
– Jan m/m GDP unrevised at +0.6%
Canada releases GDP every month, unlike other countries that only do quarterly reports. In January, +0.6% m/m growth was the strongest since July 2013. Most economists were expecting a sizeable payback in February but the pullback was modest.
