Oil-fueled Exports Help Canada Snap Out of GDP Funk
Dow Jones
Jul 07
1020 ET - Canada has clearly snapped out of its two-quarter GDP funk with net trade roaring back to life, in part due to higher oil prices, says Robert Kavcic, economist at BMO Capital Markets. Based on Statistics Canada's trade report for May, exports rose 0.9%--and a solid 26% from a year ago. Energy sales account for the bulk of the increase, Kavcic says. Volumes were weak in May, but nevertheless Kavcic estimates net trade will "add meaningfully" to 2Q growth, of up to 2.0 percentage points. (paul.vieira@wsj.com; @paulvieira)
(END) Dow Jones Newswires
July 07, 2026 10:20 ET (14:20 GMT)
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