Investment Executive on Nostr: Economy grew 0.2% in May: StatCan ========== The Canadian economy grew 0.2% in May, ...
Economy grew 0.2% in May: StatCan
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The Canadian economy grew 0.2% in May, led by expansions in manufacturing and the public sector. Retail and wholesale trade, as well as the oil and gas sector, weighed on growth. The Trans Mountain pipeline expansion contributed to economic growth. Growth was slightly tempered in June to 0.1%, with increases in construction, real estate, rental and leasing, and finance and insurance partially offset by decreases in manufacturing and wholesale trade. For the second quarter, real GDP grew at an annualized rate of 2.2%. The Bank of Canada lowered its key interest rate for a second time in a row due to weakening economic conditions. The unemployment rate reached 6.4% in June. The interest rate cuts are expected to relieve some pressure on the economy. Inflation in Europe is ticking up. Condo rents in the Toronto region dipped for the first time in three years. U.S. job openings fell slightly amid high interest rates. American consumers are feeling more confident in July.
#Economy #Gdp #EconomicIndicators
https://www.investmentexecutive.com/news/research-and-markets/economy-grew-0-2-in-may-statcan/
==========
The Canadian economy grew 0.2% in May, led by expansions in manufacturing and the public sector. Retail and wholesale trade, as well as the oil and gas sector, weighed on growth. The Trans Mountain pipeline expansion contributed to economic growth. Growth was slightly tempered in June to 0.1%, with increases in construction, real estate, rental and leasing, and finance and insurance partially offset by decreases in manufacturing and wholesale trade. For the second quarter, real GDP grew at an annualized rate of 2.2%. The Bank of Canada lowered its key interest rate for a second time in a row due to weakening economic conditions. The unemployment rate reached 6.4% in June. The interest rate cuts are expected to relieve some pressure on the economy. Inflation in Europe is ticking up. Condo rents in the Toronto region dipped for the first time in three years. U.S. job openings fell slightly amid high interest rates. American consumers are feeling more confident in July.
#Economy #Gdp #EconomicIndicators
https://www.investmentexecutive.com/news/research-and-markets/economy-grew-0-2-in-may-statcan/