BofA Ups Canada's 1Q GDP Forecast, Trims 2Q View

        15:16 EDT - Bank of America Merrill Lynch raises its forecast for Canada's 1Q growth to an annualized 1.9% from 1.6%, after data this week showed monthly GDP grew 0.2% in February following a solid 0.5% expansion in January. The projection is better than the central bank's 1Q forecast for 1.5% growth. (It will be another four weeks before Statistics Canada releases the official data.) However, BofAML trimmed its 2Q forecast to 1.6% from 1.8%--weaker than BOC's 2.5% call--citing risk from a draw-down of inventories. The mix leaves the firm's full-year forecast at 2.1%, a bit less than BOC's 2.3% call. (nirmala.menon@wsj.com; @NirmalaMenon)
        (END) Dow Jones Newswires

        May 02, 2014 15:16 ET (19:16 GMT)