Canada Economics

Canada Economics Weekly

20 July, 2018

Strong oil production masking weakness elsewhere

The economy appears to have had a stellar month in May, with a potential monthly gain in GDP of almost 1% implying that growth over the second quarter as a whole was close to 3% in annualised terms. But May’s strong rise was heavily dependent on a one-off jump in oil production and overall GDP growth is likely to slow sharply in the third quarter.

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