Energy Sector Drives Canadian Economic Recovery

The energy sector recovery boosted the Canadian economy in May, giving the nation the fastest level of growth since October 2000, according to a new report by The Canadian Press. Statistics Canada had predicted a jump in real gross domestic product by 0.2 percent in May, but the economy grew by 0.6 percent instead. The high growth rate ups the chances that the Bank of Canada will increase interest rates in September. The Bank of Canada increased the principal interest rate to 0.75 percent earlier this month. The jump represented the first such…

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