Canada's GDP rebounds in third quarter, but trade numbers mask broader weakness [Globe and Mail, The (Toronto, Canada)]
Canadian Imperial Bank of Commerce (CM)
Last canadian imperial bank of commerce earnings: 2/26 05:53 am
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Source: Globe and Mail, The
Canada's surprise bounce back in third-quarter GDP was led by a large swing in its trade balance. DARRYL DYCK/The Canadian Press Canada's real gross domestic product grew at an annualized rate of 2.6 per cent in the third quarter, Statistics Canada reported Friday. That follows a downwardly revised 1.8 per cent contraction in the second quarter. Meanwhile, Statscan's flash estimate showed a GDP contraction in October, suggesting the Canadian economy is struggling to maintain momentum in the face of continued uncertainty about U.S. trade policy. While the details of the report were mixed, the strong headline number reinforced Bay Street expectations that the Bank of Canada will hold interest rates steady at its next decision on Dec. 10. The central bank indicated last month that it has likely finished its monetary policy easing cycle. Rita Trichur: As Trump meddles with the Fed, Carney must safeguard the Bank of Canada's independence The bounce back in GDP was led by a large
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