Canada’s GDP rebounds in July after contracting for 3 months

The data showed that the monthly gross gross gross gross domestic product bounced from three months of reduction to 0.2 percent in July, since on Friday on Friday it was shown that mining, production and wholesale trade increased.

The Canadian GDP decreased in the second quarter by 1.6 percent in annual calculus, and the economists carefully tracked the GDP growth rate in July to get an idea of ​​whether there would be a reduction in the third quarter.

Two consistent compression quarters are considered a technical recession.

The preliminary assessment showed that August, most likely, would not see growth, but, according to Canada’s statistics, will not see compression, since an increase in the production of services that produce services will most likely be compensated by sectors producing goods.

An expanded assessment is not always accurate and can change.

Analysts surveyed by Reuters predicted GDP growth by 0.1 percent in July, compared with a reduction of 0.1 percent in June.

“The Canadian economy continues to stay there, not assuming an increase in urgency for [Bank of Canada] reduce bets. Nevertheless, the basic softness in the economy probably contributes to further softening, ”wrote Benjamin Reitzes, managing director, Canadian tariffs and macro strateg at Bank of Montreal.

“BMO predicts a pause in October, after which 25 [basis point] Reducing bets at meetings in December and March. ”

The economic growth of Canada over the past few months after the strong beginning this year as a dinner in American tariffs with critical sectors of the economy.

The Canadian Bank said that trading malfunctions and tariffs have significantly reached key sectors, forcing business investments, and there were a chance that malaise could extend to other sectors in the coming months.

Growth in July was primarily due to the production of goods that introduce about a quarter to the monthly GDP. This sector grew by 0.6 percent for the first time in four months.

The mining sector promotes growth

The largest contribution to the growth made a contribution to the production, production and production of oil and gas, which registered an increase in growth by 1.4 percent. The production sector, which is strongly exposed to US tariffs and contributes to the tenth GDP, has grown by 0.7 percent, registering the second fastest growth.

The sector produced by the services that account for three quarters of the monthly GDP was less impressive, with an increase of 0.1 percent, which was helped by wholesale and transportation and warehouse, both grew by 0.6 percent.

According to the statistical transport of Canada, the growth in the transport sector and the warehouse, which was reduced by 0.7 percent in the previous month, was due to an increase in pipeline transport, which notes its largest growth since September 2022.

The agency reported that in July it reported that real estate and rental and leasing grew by 0.3 percent, publishing a new record holder for the second month in a row, adding that growth in July was due to higher activities in real estate and brokers agents.

The largest fall was noticed in retail trade, which was reduced by one percent in July after solid growth in the previous month.