Canada

What was Canada’s economy like in July? Statistics Canada to release GDP data

Statistics Canada will launch its newest GDP figures Thursday morning as an anticipated financial slowdown unfolds.

The company is ready to launch its newest financial studying for the month of July.

Its final report stated actual gross home product grew by 0.8 per cent within the second quarter whereas an early studying for July pointed to a contraction of 0.1 per cent.

RBC is forecasting the economic system stayed flat in July, neither rising nor contracting.

An financial slowdown is broadly anticipated because the Financial institution of Canada aggressively raises rates of interest to chill excessive inflation.

There have been some early indicators {that a} slowdown is already underway, together with falling housing costs and three consecutive months of job losses.

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