Canada's economy grew a strong 3.3% annualized in 2nd quarter, as 1st quarter revised higher
Canada’s economy grew at an annualized rate of 3.3% in the second quarter, driven by stronger exports, business investment and residential activity, according to Statistics Canada. The data also revised first-quarter growth to 0.3%, effectively ruling out a technical recession, while household spending and investment in technology and equipment also increased. However, economists warned that U.S. tariffs and flat growth in July could weaken momentum, with the Bank of Canada widely expected to hold its key interest rate at 2.25% next week.
