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Canada Preview: May GDP Seen +0.3% On Services, Goods Gains
Real gross domestic product grew 0.3% in May, analysts predicted, supported by both the services and goods producing sectors, with risks tilted to the upside. Analysts' forecasts in an MNI survey centered on an expectation of a 0.3% gain, with estimates ranging from +0.2% to +0.5%, following a 0.1% increase in April. Manufacturing (+0.2% in April), retail trade (+0.8%) and wholesale trade (+1.3%) are particularly expected to bring a robust contribution to the month's GDP growth, although gains are generally seen as widespread. At the low end of the forecasting range, IHS Economics Senior Principal Economist Arlene ... (full story)