{"id":44121,"date":"2019-03-01T09:54:17","date_gmt":"2019-03-01T14:54:17","guid":{"rendered":"https:\/\/olduvai.ca\/?p=44121"},"modified":"2019-03-01T09:54:20","modified_gmt":"2019-03-01T14:54:20","slug":"canada-in-recession-gdp-unexpectedly-drops-for-2nd-month-in-a-row","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=44121","title":{"rendered":"Canada In Recession? GDP Unexpectedly Drops For 2nd Month In A Row"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.zerohedge.com\/news\/2019-03-01\/canada-recession-gdp-unexpectedly-drops-2nd-month-row\">Canada In Recession? GDP Unexpectedly Drops For 2nd Month In A Row<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Canadian GDP just contracted for the second month in a row,<\/strong>&nbsp;leaving the headline Canada GDP up just 0.4% SAAR in 4Q, according to Statistics Canada (dramatically below the estimate of +1.0%).&nbsp;<strong>The headline quarterly change misses even lowest of economist estimates.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/2019-03-01%20%281%29.png?itok=ORimL7Uk\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/2019-03-01%20%281%29.png\" alt=\"\"\/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">And on a YoY basis&#8230;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/2019-03-01_5-53-25.jpg?itok=-3SlfHdD\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/2019-03-01_5-53-25.jpg\" alt=\"\"\/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Under the hood it was just as ugly, with&nbsp;<strong>household consumption growth slowing further to 0.7% QoQ (weakest since 2015), investment and housing declining sharply,<\/strong>&nbsp;and helped only by an inventories accumulation (inventories added 1.53 percentage points to growth in 4Q).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Business gross fixed capital formation dropped 9.6% in 4Q,&nbsp;<\/strong>from -8.4% in previous quarter:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Non-residential investment falls 10.9%, largest decline since 2016<\/li><li>Residential structures fall 14.7%, biggest decline since 2009<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Final domestic demand tumbled 1.5% in 4Q,<\/strong>&nbsp;from -0.5% in previous quarter<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Worse still,<strong>&nbsp;first half of 2018 growth revised down to 2.0% from 2.3%.&nbsp;<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But apart from that &#8211; everything is awesome and you should be buying Canadian stocks!!<\/p>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/2019-03-01_5-51-33.jpg?itok=RP8D0kwT\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/2019-03-01_5-51-33.jpg\" alt=\"\"\/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The result &#8211; as Poloz et al. are about to reverse all hawkishness even further &#8211; a tumble in the loonie&#8230;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/2019-03-01_5-44-17.jpg?itok=H6uEcgan\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/2019-03-01_5-44-17.jpg\" alt=\"\"\/><\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Canada In Recession? GDP Unexpectedly Drops For 2nd Month In A Row Canadian GDP just contracted for the second month in a row,&nbsp;leaving the headline Canada GDP up just 0.4% SAAR in 4Q, according to Statistics Canada (dramatically below the estimate of +1.0%).&nbsp;The headline quarterly change misses even lowest of economist estimates. And on a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[103,353,4549,1936,4318],"class_list":["post-44121","post","type-post","status-publish","format-standard","hentry","category-economics","tag-canada","tag-gdp","tag-gross-domestic-product","tag-statistics-canada","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/44121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44121"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/44121\/revisions"}],"predecessor-version":[{"id":44122,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/44121\/revisions\/44122"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}