Blog – GDP Analysis – Canada and the World – June 2023 • Prior month 0.0% revised to +0.1% • April GDP 0.0% versus 0.2% expected • goods producing industries up 0.1% • service producing industries 0.0% • 11 of 20 industrial sectors posted increases • Advanced GDP for May is expected at 0.4%. The advanced number for April was expected at 0.2% Looking at some of the details: • The manufacturing sector declined 0.6% in April, down for the first time in four months, as both durable and non-durable goods manufacturing were down in the month. • Transportation and warehousing (+0.4%) was up for the second consecutive month as six of nine subsectors increased in April. • Wholesale trade contracted 1.4% in April, as wholesaling activity declined in six of nine subsectors. This was the third consecutive month of decline in the sector. • The real estate and rental and leasing sector grew for a sixth consecutive month, expanding 0.5% in April. It is the sector's largest growth rate since December 2020. • Construction activity grew 0.4% in April, as lower residential building construction was more than offset by broad-based increases in other types of construction. • The public sector (educational services, health care and social assistance and public administration) experienced its first decline since January 2022, with a 0.3% contraction in April 2023. While both educational services as well as health care and social assistance remained flat, public administration recorded a large decline (-1.0%). • Mining, quarrying, and oil and gas extraction (+1.2%) grew in April as all subsectors were up. This was the fourth consecutive month of growth in the sector. GDP is muddling along over the last 3 months with 0.1%, 0.1% and 0.0% MoM numbers. Next month is looking better, however.. The USDCAD is backing off a bit from the swing area on the hourly chart between 1.3271 and 1.32853. The high prices 1.32729. Source - https://www150.statcan.gc.ca/n1/daily-quotidien/230630/dq230630a-eng.htm or GDP - https://www.marketpulse.com/fundamental/impressive-gdp-and-personal-consumption-drive-fed-rate-hike-bets/emoya Cobalt and Lithium - https://asia.nikkei.com/Business/Markets/Commodities/Chinese-EV-market-slowdown-slashes-lithium-cobalt-prices Oil and gas - https://www.cnbc.com/2023/06/30/energy-transition-is-lagging-oil-demand-will-stay-industry-players.html Australia - https://www.zawya.com/en/world/china-and-asia-pacific/australias-budget-surplus-swells-cuts-borrowing-needs-vk2k8ufk GDP - https://www.aigroup.com.au/resourcecentre/research-economics/economics-intelligence/2023/june-global-economic-forecasts/ Inflation - https://www.hellenicshippingnews.com/global-inflation-forecasters-reflect-on-a-humbling-task/ Food costs and security - https://www.cleanenergywire.org/news/eu-climate-policy-must-put-more-focus-food-security-german-farmers Construction costs - https://globalnews.ca/news/9801249/homebuilding-costs-have-surged-51-since-the-pandemic-began/ Housing