Canada: Expect a flat reading of GDP for August - TDS

Analysts at TD securities are looking for a flat print on Canada’s industry level GDP for August (market: 0.0%) on weakness in the goods sector after a sharp pullback in residential construction and a decline in manufacturing activity.

Key Quotes

“Energy production will offer a slight offset as output normalizes from a shutdown while services should see a modest increase.”

“In the afternoon we will hear from senior BoC officials on their second day of Parliamentary testimony; Poloz and Wilkins will testify to the Senate Banking Committee at 16:15 ET.”