Canada: Strong Q2 GDP data coming? TD Securities

Analysts at TD Securities suggest that Canada’s GDP is released for both the second quarter and the month of June, and are looking for better-than-expected prints, with Q2 growth of 3.3% q/q (mkt: 3.0%; BoC 2.3%) and June growth of 0.2% m/m (mkt: 0.1%).

Key Quotes

“Q2 growth was likely boosted by a strong contribution from net exports, while residential investment likely surged into double-digit territory. We expect relatively modest growth from other components. For June GDP, energy production and non-residential construction will be key sources of strength.”