Momentum Returns to Canada's Economy, Leaving Options for Bank of Canada
Dow Jones
Sep 29
1012 ET - Canada's economy may have taken a vacation but momentum returned later in the summer, Desjardins' Royce Mendes says. Offsetting moves in various industries meant unchanged GDP in July, though after upwardly revised growth of 0.4% on-month in June. The early estimate for August points to solid 0.2% growth, Mendes notes. Desjardins' base case forecast anticipated the Bank of Canada will stay on hold until January, but Mendes says that if energy prices remain high then strong summer GDP growth would allow the central bank to raise interest rates earlier even if tariffs remain in place.
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