Canada Economy Sees Strong Recovery in Second Quarter

Canada's economy showed significant improvement in the second quarter, growing at an annualized rate of 3.3% after six months of minimal growth.

This marked a sharp rebound from the revised 0.3% increase in the first quarter, with exports playing a major role in the recovery.

Domestic demand also contributed to the growth, driven by consumer spending and business investments.

The Canadian dollar slightly weakened after the GDP data, but money markets were pricing no change in interest rates next week.