Canada June 2020 GDP estimate from Statistics Canada

  • Q1 was -8.2% (unrevised)
  • June GDP vs +5.6% m/m expected
  • Prior was +4.5%
  • GDP y/y vs -9.1% expected
  • July GDP forecast to rise 3.0% in flash estimate
  • Household savings rate was 28.2% in Q2