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I combine the two months of GDP with the first principal component of select data and get 2.1%. It was 2.5% before February's surprising weak GDP. Funny how the experts on Bay Street who just last week were climbing over each other to push their BoC rate forecast forward are now having second thoughts.

Yeah, I don't get it. This was the number for February, and the excitement was about March data. The February employment numbers were flat, so I don't see why anyone would revise the path down very much.

WCI estimate vs Latest data: Three small over-predictions in Q2, and three material under-predictions in Q3...is this pointing to more problems in seasonal adjustment, particularly related to the education sector?

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