Canada’s Economy Slows as US Wage Gains Accelerate
The Canadian economy ran out of momentum toward the end of the first quarter, helping bolster market-implied odds on an imminent pivot to easing by the Bank of Canada. Numbers released by Statistics Canada this morning show real gross domestic product missing forecasts with a 0.2 percent expansion in February, following a downwardly-revised 0.5-percent expansion in January. The services sector led gains for a second month, but goods-producing industries flatlined. Just 12 of 20 economic sectors reported positive growth, down from the prior month’s 18. On a year-over-year basis, activity rose 0.8 percent, with the first quarter tracking toward a...