Zero Growth in August Keeps Bigger Canada Rate Cuts on Table
- Economy on track to grow slower than Bank of Canada’s forecast
- Policymakers focused more on growth after inflation hit 2%
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The Canadian economy showed more signs of weakness that should keep the Bank of Canada cutting interest rates to boost growth.
Preliminary data suggest gross domestic product was flat in August as declines in manufacturing and transportation offset gains in oil and gas extraction and the public sector, Statistics Canada reported Friday in Ottawa.