# Instant view: Canadian economy misses first quarter growth forecast

> The Canadian economy expanded at an annualized 1.7% rate in the first quarter, missing forecasts. Real GDP likely rose 0.3% month over month in April. The data was released on Friday, May 31.

- Date: 2024-05-31 · published 2024-05-31T12:00:00.000Z
- Category: report · region Canada · magnitude low
- Page: https://feedsoft.ai/events/30515-instant-view-canadian-economy-misses-first-quarter-growth-forecast
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Weaker growth raises expectations of Bank of Canada easing, which tends to pressure the loonie. This affects the currency value of Canadian grain and oilseed exports more than their underlying supply.

## Read by commodity

- USDCAD: neutral

## Sources

- reuters.com: https://www.reuters.com/markets/view-canadian-economy-misses-first-quarter-growth-forecast-2024-05-31/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.