Live Updates > Live Update Details
2025-08-01 00:01:46
[Canadian Imperial Bank of Commerce: Canada's GDP situation is likely to reverse in the second quarter] Statistics Canada said that early indicators showed that GDP grew by 0.1% month-on-month in June, which means that GDP will be flat in the second quarter. On the surface, this is much better than the Bank of Canada's expectation of a 1.5% annualized decline. However, Statistics Canada's monthly GDP data is based on industry output, while the quarterly GDP report takes into account spending and investment. Canadian Imperial Bank of Commerce Capital Markets pointed out that spending data in the first quarter was much stronger than industry data, resulting in an unexpected 2.2% increase in GDP. "It is very likely that the situation in the second quarter will reverse," said Andrew Grantham, an economist at Canadian Imperial Bank of Commerce. Research from the Bank of Canada shows that trade uncertainty has prompted companies to limit business investment, and consumers are also cautious about spending plans. (Dow Jones)
