{"id":12394,"date":"2021-07-30T15:38:45","date_gmt":"2021-07-30T15:38:45","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/07\/30\/canadas-economy-set-to-grow-in-second-quarter-gdp-data-show\/"},"modified":"2021-07-30T15:38:45","modified_gmt":"2021-07-30T15:38:45","slug":"canadas-economy-set-to-grow-in-second-quarter-gdp-data-show","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/07\/30\/canadas-economy-set-to-grow-in-second-quarter-gdp-data-show\/","title":{"rendered":"Canada&#8217;s economy set to grow in second quarter, GDP data show"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\">\n<h2 class=\"visually-hidden\">Breadcrumb Trail Links<\/h2>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\"> News <\/li>\n<li class=\"breadcrumbs__item\"> Economy <\/li>\n<\/ol>\n<\/nav>\n<p class=\"article-subtitle\"> June makes up for lockdown declines in April and May <\/p>\n<div class=\"article-meta\">\n<div class=\"published-by\">\n<p>Author of the article:<\/p>\n<p> <span class=\"published-by__author\">Bianca Bharti<\/span> <\/div><\/div>\n<figure class=\"featured-image\"><picture class=\"featured-image__ratio featured-image-category__economy\"><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Statistics Canada said an incomplete tally of economic output last month suggests that GDP surged 0.7 per cent, led by retailers, restaurants, and hotels.<\/span> <span class=\"credit\">Photo by Ernest Doroszuk\/Toronto Sun\/Postmedia<\/span> <\/figcaption><\/figure>\n<\/div>\n<div id=\"\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>Canada\u2019s economy appears to have avoided a contraction in the second quarter, as the most up-to-date data show a strong June more than offset weakness earlier in the spring.<\/p>\n<\/p><\/div>\n<div id=\"\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>Statistics Canada reported on July 30 that gross domestic product (GDP) decreased 0.3 per cent in May, exacerbating a 0.5-per-cent drop in April. The declines were the direct result of stricter health measures that provinces implemented to control the third wave of COVID-19 infections.<\/p>\n<p>Those restrictions were relaxed in June, and the economy appears to have responded in kind. Statistics Canada said an incomplete tally of economic output last month suggests that GDP surged 0.7 per cent, led by retailers, restaurants and hotels. If June unfolds as the preliminary data suggest, the quarterly figure will work out to annualized growth of about 2.5 per cent, Statistics Canada said.<\/p>\n<figure class=\"embedded-image\"><picture class=\"embedded-image__ratio\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/07\/fp0730-gdp-quarterly-2021-1.png?quality=90&strip=all&w=288&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/07\/fp0730-gdp-quarterly-2021-1.png?quality=90&strip=all&w=288&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/07\/fp0730-gdp-quarterly-2021-1.png?quality=90&strip=all&w=288&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/07\/fp0730-gdp-quarterly-2021-1.png?quality=90&strip=all&w=288&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/07\/fp0730-gdp-quarterly-2021-1.png?quality=90&strip=all&w=288&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/07\/fp0730-gdp-quarterly-2021-1.png?quality=90&strip=all&w=288&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/07\/fp0730-gdp-quarterly-2021-1.png?quality=90&strip=all&w=288&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/07\/fp0730-gdp-quarterly-2021-1.png?quality=90&strip=all&w=288&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/07\/fp0730-gdp-quarterly-2021-1.png?quality=90&strip=all&w=288&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/07\/fp0730-gdp-quarterly-2021-1.png?quality=90&strip=all&w=288&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/07\/fp0730-gdp-quarterly-2021-1.png?quality=90&strip=all&w=288&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"\" class=\"embedded-image__image lazyload\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/07\/fp0730-gdp-quarterly-2021-1.png?quality=90&strip=all&w=288&ssl=1\" srcset=\"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/07\/fp0730-gdp-quarterly-2021-1.png?quality=90&strip=all&w=288,\n                https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/07\/fp0730-gdp-quarterly-2021-1.png?quality=90&strip=all&w=576 2x\" height=\"920\" loading=\"lazy\" width=\"1000\"\/><\/picture><\/figure>\n<p>\u201cThe decline in May was almost textbook, with another big drop in retail trade (-2.7%) and food &amp; accommodation (-2.4%), and smaller setbacks in manufacturing and transportation,\u201d Douglas Porter, chief economist at Bank of Montreal, wrote in a note. But, \u201camid the many moving parts, it now looks like the Canadian economy managed to eke out some modest growth for all of Q2,\u201d Porter wrote.<\/p>\n<\/p><\/div>\n\n<br \/>Canada&#8217;s economy set to grow in second quarter, GDP data show<\/a><br \/>\n<br \/>2021-07-30 15:38:45<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News Economy June makes up for lockdown declines in April and May Author of the article: Bianca Bharti Statistics Canada said an incomplete tally of economic output&#8230;<\/p>\n","protected":false},"author":2,"featured_media":12395,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/07\/reopening0730.jpg?quality=90&strip=all&w=288","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-12394","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/12394","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=12394"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/12394\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/12395"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=12394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=12394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=12394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}