Canadian economy steadies ahead of trade war escalation
The Canadian economy expanded at the fastest rate since 2023 in the second quarter, but showed signs of decelerating slightly into the third, helping reinforce expectations for a neutral message from the Bank of Canada next week. Numbers released by Statistics Canada this morning showed real gross domestic product growing at a 3.3-percent annualised pace in the three months ended June, matching market expectations and marking a solid rebound from the revised 0.3% expansion recorded in the previous quarter. Exports jumped at a quarter-over-quarter annualised 15.1% pace, business investment rose 12.3%, residential investment climbed 10.4%, and household consumption increased by...