📊 Growth, Inflation Mix Encouraging In Canada: Cable FX Macro

**As seen in Macro Walk report 05/12/23, subscribe at cablefxm.co.uk/reports

• The Economic Board section in our Macro Walk report showed the Canadian economy holding the best growth, inflation mix. Output stands at second best in our watch list, only behind Australian growth, the latest data showed output expanding at an annual rate of 2.5%

• On the inflation front, Canadian headline prices slowed to 4.40% Y/y in April. This is not the slowest pace in the group, however, countries where inflation is relatively lower post growth closer to 1.0%

• We have previously noted Swedish macro risks as it holds contracting output and the highest inflation rate in our list. The most recent data showed Swedish headline CPI slowing to 10.5% Y/y, however, this remains 8.5 percentage points above the Riksbank's price target. Economists expect Sweden CPI to rise by 8.3% Y/y in 2023