Canada’s biggest bank is warning investors of an economic slowdown brewing. Gross domestic product (GDP) data for Q2 won’t be released until next week, but RBC expects it to show the economy was hit with a sharp slowdown. Coupled with a mild acceleration to inflation, everyone has one question—is a slowing economy enough to prevent further rate hikes? Canada’s plan to use rapid population growth to stimulate demand isn’t producing the desired effect. Statistics Canada (Stat Can) released its preliminary estimate showing annual GDP growth falling to just 1% in Q2. It’s a sharp deceleration from the previous quarter (+3.1%), leaving annual growth lower than population growth CLICK HERE for the full story
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