Canadian economy shrank 1.1% in Q2, July GDP seen down 0.4% By Reuters


© Reuters. FILE PHOTO: A construction crane is seen above Brookfield’s Bay Adelaide North, the third office tower to be constructed at their Bay Adelaide Centre complex property in Toronto, Ontario, Canada April 14, 2021. Picture taken April 14, 2021. REUTERS/Chris

OTTAWA (Reuters) – Canada’s economy shrank by 1.1% in the second quarter on an annualized basis and the economy most likely contracted by 0.4% in July following a 0.7% gain in June, Statistics Canada said on Tuesday.

Analysts surveyed by Reuters had expected second quarter annualized growth of 2.5% and a gain of 0.7% in June.

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