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Scotiabank sees wildfires trimming Canada’s GDP
The wildfires burning across Canada’s main natural gas-producing region may trim 0.2 per cent to 0.3 per cent from growth in the country’s gross domestic product in May if much of the area’s output remains shut for the month, one of Bank of Nova Scotia’s top economists estimates. That projection is rough and could evolve as more shutdowns are announced, but the blazes “are going to be messing with the Canadian economic statistics,” Derek Holt, head of capital markets economics, said in a note to clients Tuesday. “We’re getting into the high single-digits of Alberta’s total oil output that is being ... (full story)