PrintCanada's Q1 GDP Seen Roughly in Line With Bank of Canada's MPR Forecast, Says CIBC
BY MT Newswires | ECONOMIC | 03/31/26 08:54 AM EDT08:54 AM EDT, 03/31/2026 (MT Newswires) -- The Canadian economy advanced by 0.1% month over month to start the year, a tick above the consensus expectation, notes CIBC after Tuesday's gross domestic product data release.
CIBC cites strength in goods-producing sectors, namely oil and natural gas extraction, mining/quarrying, and construction, which masked a decline in manufacturing.
The strength in goods sectors offset weakness tied to extreme weather conditions that weighed on transportation/warehousing and real estate activity, says CIBC.
Momentum increased in February, as the advance estimate pointed to a 0.2% month-over-month gain, which leaves Q1 GDP tracking roughly in line with the Bank of Canada's Monetary Policy Report forecast of just under 2%, adds the bank.
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