Canada added 82,000 of the less desirable part-time positions in July while losing 28,000 full-time jobs
Exports increased by 4.1% from May to a record $50.7 billion, thanks in most part to energy products and aircraft
May GDP growth of 0.5% beat expectations as the oil and gas sector led the way with a 2.5% increase
Retail, manufacturing and wholesale strength will push May GDP even higher
The gains more than made up for the drop seen in April
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