Statistics Canada to release June and second quarter GDP numbers today

OTTAWA –

Statistics Canada will launch its newest studying on how the general economic system is faring this morning.

The company is predicted to launch its figures for gross home product for June and for the second quarter as an entire.

An early estimate by Statistics Canada pointed to a contraction of 0.2 per cent in actual GDP for June, whereas progress within the second quarter was estimated at an annualized price of 1 per cent.

The lower in June was attributed to the wholesale commerce and manufacturing sectors, although the company cautioned the numbers had been preliminary and stated they’d be up to date.

The financial report comes forward of the Bank of Canada’s rate of interest determination set for subsequent week.

The central financial institution raised its key rate of interest goal by 1 / 4 of a proportion level to 5 per cent in July because it stated it remained involved that progress towards its two per cent inflation goal may stall.