TD Securities analysts are expecting Canada’s industry-level GDP to rise by 0.2% in May, slightly above the market consensus for a 0.1% advance, with the goods sector driving the headline print on a rebound in the manufacturing industry.

• “Services should see a more subdued performance owing to a sharp pullback in wholesale trade, although a 0.2% increase would still leave Q2 tracking well above trend (1.8%) and BoC projections (2.3%).
• Factory prices for June will be published alongside GDP, with the market consensus calling for a 0.2% decline on the month.”