Canada 1Q 2019 GDP
- Canada 1Q GDP 0.4% annualized versus 0.7%
- MoM GDP for March 0.5% versus 0.4% estimate
- YoY GDP for March 1.4% versus 1.2% estimate
- Growth was driven by 0.9% increase in household spending. Fastest since 2017
- business investment in machinery and equipment rose 8.7%
- Gross fixed capital formation added 0.88% to 1Q
- Business Gross fixed capital formationclient 3.6% in the quarter versus -8.0% in the previous quarter
- Exports declined by-1.0% while imports increased by 1.9%. Net trade was the biggest drag on growth
- investment in housing continued to decline. It was down -1.6% in the 1st quarter
- nonresidential investmentincreased 13.5%. Most since 2010
- nonfarm inventories rose by $16.1 billion led by a $1.7 billion of cannabis.
- savings rate climbed to 2.4% in 1Q from 2.2% in previous quarter
- household disposable income climbed 0.9% versus 1.3% previous quarter
- final domestic demand rose 3.4% versus -1.0% the previous quarter
