Canada’s economy grew by a greater-than-expected 0.3% in May and looks set to turn in its best annualized quarterly performance for more than three years, official data indicated on Friday.
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[The growth] indicates annualized second-quarter growth of 3.4%, significantly higher than the Bank of Canada’s July 15 forecast of 2.5%, and the highest annualized quarterly increase since the 4.3% seen in the first three months of 2023.
The central bank left its benchmark overnight rate unchanged at 2.25% on July 15 and said growth would strengthen in the second half of the year as inflation pressures eased and firms continued to adapt to U.S. tariffs.
“The economy appears to have found ways to navigate the current cloud of uncertainty relating to trade with the United States,” said Royce Mendes, managing director and head of macro strategy at Desjardins.
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You sound like a reasonable person who’s given up, and I get that. Given everything we see, it may even be the rational choice, but it’s not the moral one. It’s fine if you want to check out, but that doesn’t explain the cheerleading for policy that will make everything worse. It turns you from a bystander to an antagonist.
If this planet is going to end in fire, I have to believe that Good people are going to fight for it, even if we know we can’t win because “if nothing we do matters, then all that matters is what we do”.