Canadian Economy Grows in July

For the second straight month, the Canadian economy recorded positive growth after an overall contraction for the 2nd quarter. According to Statistics Canada, growth for July matched expectations expanding by 0.3 percent.

The back-to-back monthly increases may reduce concerns that Canada is heading towards recession. Bank of Canada Governor Mark Carney has already stated that so far, result for the 3rd quarter appear positive as well.

Source: Reuters

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