The energy industry helped power growth in Canada’s GDP
The improvement from 1.2% annual growth in Q1 was powered by a robust recovery in consumer spending after a winter slowdown
Canada’s Big Five banks all announced they were increasing their prime lending rates by 25 basis points effective on Thursday
The rating outlook trend in developed markets has turned positive based largely on country-specific developments
Speculation about an interest rate hike comes amid a flurry of strong economic news this year
There are signs that Canada’s economy is building momentum and the Bank of Canada could start raising interest rates on July 12
The bank’s most recent quarterly survey of Canadian firms finds that corporate expectations are all above historical averages
The growth came as service-producing industries increased by 0.3%, helped by widespread gains
Business investment remains weak, IMF says
Gains in service-producing industries were offset by declines in goods-producing industries