Royal Bank of Canada (RBC) economists Abbey Xu and Nathan Janzen note that Canadian Gross Domestic Product (GDP) rose 0.3% in May, with an advance estimate of 0.2% for June, indicating a solid second-quarter rebound after winter stagnation. They highlight broad-based sector gains and estimate Q2 annualized growth of 3.4%, above their 2.2% forecast, while warning that escalating trade tensions and new U.S. tariffs pose downside risks despite improving per-person and per-worker output.
Growth rebounds but trade risks loom
“The stronger-than-expected 0.3% increase in Canadian GDP in May (and early estimate of another 0.2% increase in June) added…
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