Economic Update

Canadian GDP growth weaker-than-expected into the summer

GDP unexpectedly posted a 1.1% decline at an annualized rate in Q2. Activity bounced back 0.7% in June but April and May data were revised to show larger declines. The larger surprise was a preliminary estimate that GDP declined 0.4% in July despite most provincial economies continuing to ease restrictions.

View Full Report about Canadian Q2 2021 GDP