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Although the indicator increased to its highest level since 2011, the surveys were completed before the U.S. tariffs on steel and aluminum were announced

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Gains in the manufacturing and utilities sectors more than offset declines in construction and in mining, quarrying, and oil and gas extraction

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A rebound in the energy sector, driven by improved oil prices, spearheaded the recovery.

Raise and fall of business indicators green and red arrows

There are other factors complicating the interest-rate outlook since the central bank last raised interest rates on May 30

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Canada’s economy grew at an annualized pace of 1.3% for the first three months of the year

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Business leaders keen to adapt to technological advancements that are disrupting many industries

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The unemployment rate remained at 5.8% as the economy posted a net loss of 1,100 jobs during the month

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The pace of hiring has yet to be disrupted by dramatic global market swings, a recent pickup in inflation or the risk that the could provoke a trade war

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The mining and oil and gas extraction sector gained 2.4% for the month

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The rise came after two consecutive monthly declines