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Canada’s GDP Expected to Beat US in Q1

It’s not much of a consolation, but Canada’s plodding economy looks like it outperformed the U.S. in the first quarter.

Figures due out Friday are expected to show that U.S. gross domestic product shrunk at an annual rate of as much as 0.5 per cent in the first quarter.

Forecasts suggest Canadian GDP, on the other hand, grew 1.7 per cent – still positive, but a dramatic slowdown from the 2.9 per cent pace of the final three months of 2013. That report is also due out Friday.

The big story in both countries was the cold and stormy winter weather, which affected everything from home building to consumer spending and exports.

The rest of the year is likely to be better, but nowhere near the near-3-per-cent pace of the final quarter of last year. And few economists expect Canada to grow faster than the U.S. through the rest of the year.

via The Globe and Mail [1]

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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