Flaman Rentals Blog

Canadian economy grows again, pointing to stronger second half

Posted by Flaman Agriculture Sep 30, 2015

David Parkinson - ECONOMICS REPORTER

The Globe and Mail

Published Wednesday, Sep. 30, 2015 8:34AM EDT

The Canadian economy posted its second straight month of impressive growth in July, strengthening the case that the country’s economic fortunes have turned a corner following a trying first half of the year.

Statistics Canada reported that Canada’s real gross domestic product grew by 0.3 per cent month-over-month in July, building on the 0.4-per-cent growth posted in June. The two-month upturn marks a sharp reversal from the first five months of the year, when the economy contracted each month, bogged down by the impact of the oil shock and an unusually harsh winter. After a cumulative GDP decline of 0.9 per cent over the first five months of 2015, the economy has now rebounded by nearly 0.8 per cent over the past two months of data.

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