Canadian Economy Weakened in January, But Things Will Get Worse - Forex News by FX Leaders
The Canadian GDP slowed to just 0.1% in January

Canadian Economy Weakened in January, But Things Will Get Worse

Posted Tuesday, March 31, 2020 by
Skerdian Meta • 1 min read

The GDP report for January was released from Canada a while ago. The report released last month showed a nice jump in December by 0.3%, which was promising after the Canadian economy had been at 0.0%-0.1% for many months. But, that wasn’t going to last and today’s report showed just that. Below is the GDP report, as well as the PPI report from Canada for January:

GDP Report

  • January GDP +0.1% MoM vs +0.2% expected
  • December stood at +0.3% MoM
  • GDP +1.8% YoY vs +1.9% expected

PPI Report

  • Industrial product price -0.5% vs -0.3% expected (prior -0.3%)
  • Raw materials price index -4.7% vs -2.2% in January

So, Canadian GDP report for January missed expectations of 0.2%, coming at 0.1%. GDP YoY also ticked down to +1.8% against +1.9% expected. The PPI (producer price index) report was even worse, with industrial products price coming at -0.5% vs -0.3% expected, while raw materials price index at -4.7% vs -2.2% in December. Not a good report for normal times, but it will get much worse in the coming months as Canada shuts down due to coronavirus.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
Related Articles

Leave a Reply

Notify of