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Canada's economic growth unchanged in July, August likely to expand 0.2%
- On Tuesday, Statistics Canada reported that Canada's economy remained flat in July, matching expectations after three straight months of solid growth earlier in the quarter.
- Petroleum refineries declined 6.2% in July, though utilities and construction sectors grew by 1.7% and 1.3% respectively, offsetting most of the sectoral contraction.
- StatCan estimates a 0.2% expansion for August, though Bank of Canada governor Tiff Macklem warned last week that new United States tariffs could slash fourth-quarter growth to below 1%.
- CIBC senior economist Andrew Grantham noted the report reflects activity prior to recent United States trade escalations, making upcoming employment and CPI data more critical for future decisions.
- Servus Credit Union chief economist Charles St-Arnaud expects weaker growth starting in September amid trade war escalation, while money markets price in about 50% odds for an October rate hike.
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Canada's economic growth unchanged in July, August likely to expand 0.2%
Canada's economic growth was flat in July, data showed on Tuesday, in line with expectations and signaling a slower start to the third quarter after a solid growth in the prior three months quarter.
·London, United Kingdom
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Canada's economic growth remained flat in July, data released Tuesday confirmed forecasts and pointed to a slower start to the third quarter, following strong... Canada's economic growth unchanged in July - ΙΝΑΦΤΕΜΟΡΙΚΙ
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Total News Sources5
Leaning Left0Leaning Right0Center4Last UpdatedBias Distribution100% Center
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100% Center
C 100%
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