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
Gains in the manufacturing and utilities sectors more than offset declines in construction and in mining, quarrying, and oil and gas extraction
A rebound in the energy sector, driven by improved oil prices, spearheaded the recovery.
There are other factors complicating the interest-rate outlook since the central bank last raised interest rates on May 30
Canada’s economy grew at an annualized pace of 1.3% for the first three months of the year
Business leaders keen to adapt to technological advancements that are disrupting many industries
The unemployment rate remained at 5.8% as the economy posted a net loss of 1,100 jobs during the month
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
The mining and oil and gas extraction sector gained 2.4% for the month
The rise came after two consecutive monthly declines