A steel welder in Hamilton. Canada's GDP grew more than expected in July following three months of decline.
The Canadian economy grew in July for the first time in four months and by slightly more than economists had forecasted.
Statistics Canada reported Friday that the 0.2-per-cent increase in real gross domestic product was largely driven by growth in good-producing industries. The mining, quarrying and oil and gas extraction sector led growth in July, expanding by 1.4 per cent.
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The rebound in growth suggests the economy expanded in the third quarter following a 1.6-per-cent annualized contraction in the second quarter as U.S. tariffs battered key Canadian sectors.
“Growth in Canada’s tariff-impacte