28 June 2019

The real revised GDP growth in the previous quarter was only 0.3%, marking the weakest two-quarter increase since oil prices drop which led to economic slowdown in 2015.

According to TD senior economist Brian DePratto, the national economy is shifting from 2018 slowdown. He expects 2.5% growth in Q2.

However, he believes not all sectors showed improvements with retail in a neutral zone and manufacturing drop which may exceed auto shutdowns.

“Fortunately, we have energy. Without its higher activity, supported by weaker production restrictions, it could be quite a pessimistic report”, – he noted.