Canada's first-quarter GDP is forecast to grow by 1.7%.

In February, Canada's industry-based Gross Domestic Product (GDP) grew by 0.2%, in line with economists' average expectations and Statistics Canada's preliminary estimate. However, the forecast for March shows that economic activity remained flat that month. Nonetheless, the estimate suggests that the country's economy grew at an annualized rate of 1.7% in the first quarter, rebounding from a 0.3% contraction in the previous quarter. This puts the economic growth slightly above the Bank of Canada's forecast of 1.5%, but there remains a lot of uncertainty in the future, including uncertainties in trade policy and energy prices, especially amidst the prolonged conflict in Iran.