Higher Energy Prices to Boost Canada 2Q GDP -- Market Talk

Dow Jones03-24 23:21

1121 ET - Desjardins Group chief economist Jimmy Jean says the firm is upgrading its Canadian economic outlook, due to an anticipated boost to investment and sales for country's energy sector. Jean says growth in 1Q is set to rebound after a contraction in the previous quarter. The upgrade starts in 2Q, Jean says, with Desjardins expecting annualized growth of 2.5%. Offsetting the boost to income from elevated energy prices will be higher inflation that is expected to squeeze households, he adds. "While the terms of trade are improving overall, gains are partial and not equally distributed," Jean says. He adds the boom in energy comes amid a gloomier outlook from a weak labor market, trade-policy uncertainty and an extended housing slump. (paul.vieira@wsj.com; @paulvieira)

(END) Dow Jones Newswires

March 24, 2026 11:21 ET (15:21 GMT)

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