Canadian March GDP came in at -0.3% from February’s -0.1%, in line with the median forecast. Q-1 fell -1.4% from Q-4 2008.
Q-1 annualized real GDP fell -5.4% (fastest rate of decline since 1991) vs a revised Q-4 rate of -3.7%, but was better than the median forecast of -6.5%. Manufacturing production was pulled down by weakness in the auto industry.
