{"id":432975,"date":"2026-07-01T02:22:38","date_gmt":"2026-06-30T19:22:38","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/canadian-gdp-off-to-a-strong-start-in-q2-but-trade-uncertainty-continues-rbc-432975\/"},"modified":"2026-07-01T02:22:38","modified_gmt":"2026-06-30T19:22:38","slug":"canadian-gdp-off-to-a-strong-start-in-q2-but-trade-uncertainty-continues-rbc","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/canadian-gdp-off-to-a-strong-start-in-q2-but-trade-uncertainty-continues-rbc-432975\/","title":{"rendered":"Canadian GDP off to a strong start in Q2 but trade uncertainty continues &#8211; RBC"},"content":{"rendered":"<div>\n<p>RBC Economics highlights a firmer start to Q2 in <a href=\"https:\/\/investinglive.com\/news\/canada-april-gdp-05-vs-04-expected-20260630\/\" target=\"_blank\" rel=\"follow\">today&#8217;s Canadian GDP report<\/a> after a small contraction in the first quarter of the year.<\/p>\n<p>Canadian economic activity increased 0.5% in April, slightly higher than Statistics Canada&#8217;s 0.4% advance estimate, which was also the consensus view. The May advance reading was +0.1%.<\/p>\n<p>RBC writes:<\/p>\n<blockquote><p>As expected, the increase was driven primarily by stronger activity in goods-producing industries, particularly mining, quarrying, and oil and gas extraction, alongside a pickup in manufacturing output. Service-producing industries also expanded, though at a more moderate pace.<\/p><\/blockquote>\n<p>RBC highlights that trade will continue to be a drag as the USMCA countries intensify negotiations around tweaks to the agreement. The small advance gain in May matches with what RBC is seeing.<\/p>\n<blockquote><p>Manufacturing and home resales strengthened in May, with the latter posting its largest monthly increase since October 2024. Those gains were partly offset by weaker wholesale activity, suggesting trade-related headwinds continued to weigh on parts of the goods sector. That said, as-reported today&#8217;s data is tracking some upside risk to our forecast for a 1.7% (annualized QoQ) increase in Q2.<\/p><\/blockquote>\n<p>They highlight other May data that has shown. Manufacturing sales rose 1.1%, led by motor vehicle production in the month and  home resales increased 5.1%, the strongest monthly gain since October 2024. Total hours worked rose 0.6%, highlighting resilience int he jobs picture.<\/p>\n<p>The loonie had a rough start to the year but is flat today at 1.4200.<\/p>\n<p>Wednesday is a holiday in Canada so markets will be closed and Canadian dollar trading will be light.<\/p>\n<p>                            This article was written by Adam Button at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>RBC Economics highlights a firmer start to Q2 in today&#8217;s Canadian GDP report after a small contraction in the first quarter of the year. Canadian economic activity increased 0.5% in April, slightly&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-432975","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/432975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=432975"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/432975\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=432975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=432975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=432975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}