Canada Q2 GDP data gives good momentum into Q3

Canada Q2 GDP data are out today. Bank of Canada was anticipating the economy to contract by 0.5% whereas, consencus was expecting 1.0% fall on the back of a drag from inventories, notes RBC Capital Markets.

June industry-level GDP is expected to come in at +0.2% m/m, coming too late to help much in Q2, but giving good momentum into Q3, states RBC Capital Markets in a report to its client.