Canadian GDP Preview: Forecasts from six major banks, economy cooling, but not stalling Canada GDP USDCAD Macroeconomics Banks
data on Tuesday, February 28 at 13:30 GMT as we get closer to the release time, here are forecasts from economists and researchers of six major banks regarding the upcoming growth data. “We look for Q4 GDP to print slightly above BoC projections at 1.7% with another large drag from housing as business investment/government spending remain the key drivers for domestic demand.
previously anticipated. This could lead to a more explicit signal that further rate hikes remain on the table.”“We expect Canada's GDP release to show that the economy remained resilient in the last quarter of 2022, with quarterly GDP growth of 1.6% in Q4-2022. Heading into 2023, however, we expect that growth trends may begin to downshift. We forecast a mild recession in Canada in the first half of 2023.
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