Canada Q1 GDP -8.2% vs -10.0% expected

Canada first quarter GDP

  • Prior was +0.3% (unrevised)
  • -2.1% q/q drop
  • Sharpest drop since Q1 2009
  • Household spending -2.3% in Q1, worst ever
  • Exports -3.0%
  • Imports -2.8%
  • Inventories -$3.7B
  • Full report

There’s nothing surprising in this report. Q2 is going to blow away the numbers we see here, especially with so much of Canada still locked down.

See here for global coronavirus case data