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It was expanded by 0.2 percent in July, the first signs of growth in four months, led by recovery in the industries producing goods.
The activity of extraction and extraction of production increased by 2.6 percent in July, and oil and gas production increased by 0.9 percent,
Canada stated statistics on Friday.
The production sector and transport and warehouses also succeeded in July after the abbreviations in June.
However, a preliminary assessment for
He showed that the growth was flat in August, with an increase in compensation for wholesale and retail trade by reducing production, oil and gas production and transportation and warehouses.
According to the tariff scenario in its report on the monetary policy in July,
It expects that the economy will recover a little after reduction in the second quarter, with one percentage growth in the second half of 2025.
Economists said that the third quarter is tracking so that it is below one percent, that a muffled recovery after a decrease in the second quarter.
“The preliminary assessment of the August GDP was“ essentially unchanged ” - these estimates were extremely prone to review, but would leave the total GDP growth in accordance with our own forecast by 0.5 -percent (annual) increase in GDP in 3 quarters – slow, but positive growth, and not re -compression of Q2,” said Canada's chief assistant, and assistant Canada – in the assistant to Canada. note.
The Central Bank decided to reduce its rate at night at the last announcement of a rate of up to 2.5 percent, the first finish since March. The Governor of Canada Bank Tyff Maclem referred to the weakening economy and a lower risk of inflation as the reasons for the need for further softening. The unemployment rate reached 7.1 % in August, at nine -year height outside the pandemic.
Economists expect growth to continue to pull and predict another reduction in the fourth quarter of this year.
“We look forward to our opinion that Canada Bank has a place to re-reduce bets in the fourth quarter,” said the bank economist in Toronto-dominion Marco Erko Erko, in a note. “It is expected that against the background of growth, it will gradually recover over the next pair of quarters, but the economic weak will be preserved.”
The transportation of the pipeline in July received in July in transportation and storage and support of transportation for transportation, also grew as a result of the first month of operation in
In Kitimat, BC
The increase in production activities in July was largely associated with the sector of automobile parts and automobile production, but this happened mainly from the combination
“July usually sees the planned temporary shutdowns at highway plants in Ontario,” the report said. “Nevertheless, the influence of these seasonal closures was less pronounced this year from the continuing slowdown in production, under the influence of factors such as new tariffs introduced by the United States.”
The primary production of metals was reduced by 5.5 percent in July, and the production of iron and steel factory recorded its sharp decrease since April 2020 during the pandemic, concluding a contract by 19.1 percent within a month.
Wholesale trade has grown over the third month in a row, while automobile cars and parts are growing and building material, also reported on profit.
Retail trade was in July, which reflected a decrease in consumer expenses, with weaker retail classes for suppliers of food, clothing, books, sports goods, construction equipment and garden supplies.
The real estate, lease and leasing sector has grown over the fourth month in a row due to higher activity of real estate and brokers agents. This was a reflection of growing houses throughout the country, including in the housing markets of Ontario and British Colombia.
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