Canada Economy Grew in June, Avoiding 2Q Contraction

Canada’s economy appears to have eked out weak growth in the second quarter and is on track to beat economist and central bank estimates, suggesting forecasts of severe damage from the trade war may be exaggerated.

Advance data showed industry-based gross domestic product rose 0.1% in June, Statistics Canada said Thursday. That comes after back-to-back 0.1% monthly declines in both April and May, and puts quarterly output on track to expand at an annualized pace of 0.1%.