Roberts Nash Advisory Group

Canada: Output Surge in May

Canada is booming. At least that’s the impression one gets when looking at May’s GDP results. The 0.6% growth (unannualized) during that month was simply stunning, leaving consensus expectations in the dust. The services sector remained as dependable as ever, registering its 21st consecutive month of gains despite the lack of hockey playoffs for Canadian teams (which hammered arts/recreation in May), as solid employment creation and a hot housing market powered retail spending and finance/insurance respectively. But the turnaround in the goods sector is what’s generating those strong growth numbers. Goods sector output is up almost 9% year-on-year, something not seen since 2010.

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** I have prepared this commentary to give you my thoughts on various investment alternatives and considerations which may be relevant to your portfolio. This commentary reflects my opinions alone, and may not reflect the views of National Bank Financial Group. In expressing these opinions, I bring my best judgment and professional experience from the perspective of someone who surveys a broad range of investments. Therefore, this report should be viewed as a reflection of my informed opinions rather than analyses produced by the Research Department of National Bank Financial **

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