Canada GDP to outperform flash estimates and rise 0.1% in October – TDS

Strategists at TD Securities (TDS) offer a brief preview of the monthly Canadian GDP report, which is scheduled later during the early North American session and expected to show that the economy grew by a modest 0.1% in October.

Key Quotes:

“We look for GDP to outperform flash estimates with a 0.1% print in October. Services should drive the headline print as the goods sector is weighed down by a drag from natural resources and muted performance for manufacturing. While the recent trend for GDP looks considerably stronger after Q3 revisions, we expect flash estimates to be more downbeat as momentum wanes into 2023.”