June 2, 2019

Friday was a down day in the markets due to Trump announcing escalating tariffs on all Mexican imports starting June 10. This despite the existence of NAFTA which is still in place and the USMCA which (was?) soon to be ratified.

The S&P 500 was down 1.#% and Toronto was down 0.3%.

Linamar was down 3.4%,.

Statistics Canada reported GDP growth of 0.1% (0.4% annualized in Q1). Ther e are a lot of details int he report but clearly growth was weak in Q1. This report looks at how GDP is “spent”.

Separately, Statistics Canada also reported GDP growth by industry for March. This report looks at how GDP is created. It was more positive showing a 0.7% gain for March versus February.

The overall conclusion appears to be that the economy emerged from Q1 on a strengthening note.

I don’t think Statistics Canada does a great job of explaining the differences in the two types of GDP reports.

I have updated the composition of my own portfolio for information. I have never suggested that anyone follow my portfolio but was asked years ago to provide it.

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