07:21 AM EDT, 03/14/2025 (MT Newswires) -- On the data docket for Canada at 8:30 a.m. ET Friday are manufacturers' shipments and wholesale trade both for January, said Bank of Montreal (BMO).

They are expected to spike around 2% month over month in January, partly in anticipation of United States tariffs, noted the bank.

New motor vehicle sales look to increase 5% over the year on lower borrowing costs and the drive to get ahead of tariffs, stated BMO.

Given the tariff-led distortions to the data, it will be tough to get an accurate read on underlying activity at the start of the year, pointed out the bank. For now, BMO expects real gross domestic product to slow to a 1.5% annualized rate in Q1 from the hearty 2.6% pace in Q4, before contracting next quarter in response to the trade war.