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CAD: Expect 0.3% gain in November GDP – RBC CM

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Delhi) – Research Team at RBC Capital Markets, are forecasting a 0.3% m/m gain in industry-level GDP in November, following a flat reading in October and 0.5% m/m decline in September.

    Key Quotes

    “Mining, oil and gas should rise +1.6% m/m as it recovers from the fire-related facility shutdown induced 4.7% m/m decline in September while still being hindered by lower oil prices. The rebound in manufacturing and wholesale sales reports in the month suggest a 0.5% m/m add in each category. Note that an outcome significantly weaker than the 0.2% m/m volumes gain assumed for retail sales could lower our call to 0.2% m/m.

    The weak end to Q3 and start to Q4 mean that the overall gain will only serve to support a flat growth reading in Q4 (RBC’s current monitoring and the BoC’s updated forecast in the January MPR).”
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