Canada's July GDP Data May Be Supported by Strong Retail Performance, Says Analyst

Capital Economics analyst Olivia Cross suggests that Canada’s July GDP data may be bolstered by stronger-than-expected retail figures. However, despite this boost, the overall economic outlook for Canada remains weak.Cross also referenced the Bank of Canada’s latest meeting minutes, which indicate that officials might consider accelerating rate cuts if the labor market continues to show signs of weakness and if GDP growth fails to meet expectations.