Canada Q2 GDP +2.1% q/q annualized vs +1.6% expected

  • Canada June monthly GDP data and the Q2 reading
  • Prior was +1.7% (revised to +1.8%)
  • m/m
  • Prior was +0.2%
  • Services industries +0.1% vs +0.1% prior
  • Goods -0.4% vs +0.4% prior
  • Manufacturing -1.5% vs +1.0% prior
  • July advance GDP 0.0%

Real gross domestic product was essentially unchanged in June, following a 0.1% increase in May. Goods-producing industries (-0.4%) saw its largest decrease since December 2023 as declines in manufacturing and construction were partially offset by increases in utilities and agriculture. Services-producing industries (+0.1%) increased for the third consecutive month in June 2024. Overall, 12 of 20 sectors expanded in June.

Canada June GDP
Canada June GDP

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