Economics
Exports, Housing Bolster Canada’s Economy in Face of Lockdowns
- Strong GDP report would build faith in recovery’s resilience
- But Covid restrictions could blunt momentum in second quarter
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Canada’s economic recovery likely forged ahead in the first quarter, with a recovering export sector and red-hot housing market bringing total output to the cusp of its pre-pandemic level.
Statistics Canada is expected to report on Tuesday that gross domestic product expanded at an annualized pace of 6.8% in the first three months of the year, according to a Bloomberg survey of 17 economists. That follows a 9.6% gain in the fourth-quarter, and would bring production to within 1.6% of where it was at the end of 2019.