OTTAWA (Reuters) – Canada’s economy shrank in the second quarter, its worst showing in seven years, hurt by a drop in exports and a disruption to oil production caused by wildfires in Alberta, though growth was seen as likely to rebound later this year.
While the quarterly drop slightly exceeded market forecasts, economists were encouraged by other figures released on Wednesday that showed the economy resumed growing in June.
They said the June pickup supports the Bank of Canada’s view that growth will recover in the third quarter. The central bank is not expected to move off the sidelines at its meeting next week. [CA/POLL]
“I think the Bank of Canada is still confident that exports will turn up and lead the economic expansion in the second half of the year,” said Sal Guatieri, senior economist at BMO Capital Markets.
It is being blamed on the Ft Mac devastating fire to protect the Lib government and boy king Trudeau.
It’s like liberals have competitions. See who can fuck it up the hardest and quickest. Additional points awarded for creativity.
The Socialists strike again. The Hosers are as dumb as the Germans, EH!
I went to Canada last fall(London Ontario). There were more muzzies there than in Dearborn. Maybe that’s got something to do with it?
that’s what happens when marxist run the any place.
sooner or later they run out of some else’s money.
then it turns to shit.