- This is the first reading on Q1 GDP
- Best quarter for growth since Q3 2011
- Growth in Q4 2014 was +0.6% (revised to +0.9%)
- In March, GDP expanded 0.2% vs 0.1% expected
- GDP grew 1.7% y/y from March vs 1.5% expected
USD/CAD is 20 pips lower on the report but some of the ‘unexpected’ strength might have been built in after yesterday’s upbeat current account numbers.
On its own, there isn’t much to complain about in the report. Q1 growth expectations slow crept higher and it turned into a solid rebound quarter after a soft end to 2012.
Canada GDP