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Winnipeg Free Press - PRINT EDITION
Canadian economy grew 0.2% in July
OTTAWA -- Canada's economy continues to defy adverse global conditions and the guarded expectations of experts, posting a 0.2 per cent advance in July that got the third quarter off to an encouraging start.
The expansion was double consensus estimates, although the shine was dulled somewhat by a downward revision for June to 0.1 per cent from 0.2.
Analysts said any expansion, given global economic troubles and Canada's weak export performance for the month, was cause for relief.
Derek Holt, vice-president of economics for Scotia Capital, said the third quarter is still expected to be weak, with Scotiabank tracking a one per cent annualized pace -- half the rate the Bank of Canada predicted in July.
-- The Canadian Press
Republished from the Winnipeg Free Press print edition September 29, 2012 B11
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