Dabing Auntie's Precise Sniping
All in Place
Royal Bank of Canada: Canada's Economy Weak, but Expected Not to Fall into Recession
On June 27, RBC's Claire Fan stated that Canada's GDP contracted by 0.1% month-on-month in April, and preliminary estimates suggest a similar contraction in May, indicating that GDP for the second quarter will be relatively flat, while growth in the first three months was boosted by an increase in pre-tariff inventories. Fan expects that the impact of trade uncertainty will remain relatively controllable, and while the economy may weaken by the end of the year, it will not deteriorate significantly. Broader trade headwinds will slow U.S. demand for imported goods, including Canadian products, but Canadian domestic demand may overall remain unchanged, and the economy will not fall into recession.
