The economy grew at an annualized rate of 2.1 per cent in the second quarter — beating the Bank of Canada’s forecast — but continued to shrink on a per-person basis.
Nojoud Al Mallees, The Canadian PressCharles St-Arnaud, chief economist with Alberta Central, joins BNN Bloomberg to discuss Canada’s rising economy in Q2.
Meanwhile, the economy posted declines in exports, residential construction and household spending on goods. Economists are widely expecting the central bank to lower its key policy rate by a quarter of a percentage point, which would bring it to 4.25 per cent. While high interest rates have not pushed the economy into a recession, it continues to lag strong population growth.The labour market is also showing signs of economic weakness as the unemployment rate keeps trending higher.
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