BNN BLOOMBERG POLL: Do you think Canada’s economy will avoid a recession in the next two years?
Output in June was on track for a small increase of 0.1 per cent after stalling in May, Statistics Canada said on Friday. That follows three months of better growth between February and April that helped fuel a robust expansion in the second quarter, which the agency estimated at about 4.6 per cent annualized.
“Growth can’t fully avoid the pull of a slowing U.S. economy and the Bank of Canada’s aggressive rate hike campaign, and we look for much cooler trends in coming quarters,” Doug Porter, chief economist at Bank of Montreal, said in a report to investors. The second-quarter growth number was even stronger than the 4 per cent annualized pace estimated by the central bank earlier this month, and represents an acceleration from 3.1 per cent growth in the first quarter -- which will only sow confidence that the economy needs higher rates.
The Canadian dollar was little changed at CUS$1.2822 per U.S. dollar as of 10:42 a.m. in Toronto trading. Yields on Canadian government two-year bonds rose about 2 basis points to 2.944 per cent.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Daily Chase: Canada's economy stalled in May; Amazon beats the odds - BNN Bloomberg🔶Canada’s economy stalled in May 📍Amazon beats analyst exceptions ‼️ Perm Watsa’s Fairfax takes paper loss on investments Here’s what you need to know today:
Read more »
Canada claims victory on EV tax credits in Manchin-Schumer deal - BNN BloombergPrime Minister Justin Trudeau’s top trade official claimed a diplomatic victory for Canada on U.S. electric vehicle tax credits proposed in a deal between senators Chuck Schumer and Joe Manchin.
Read more »
New therapy may help diabetics produce their own insulin, study saysOne in three Canadians have diabetes or prediabetes — via healthing_ca
Read more »
New therapy may help diabetics produce their own insulin, study saysOne in three Canadians have diabetes or prediabetes — via healthing_ca
Read more »
New therapy may help diabetics produce their own insulin, study saysOne in three Canadians are living with diabetes or prediabetes — via healthing_ca
Read more »
Canadian economy stalls, but avoids contraction in MayGrowth in services\u002Dproducing industries was offset by a decline in goods\u002Dproducing industries, Statistics Canada said. Read more.
Read more »