UPDATE 2-Shoppers help Canada's economy rebound in May

Newswire

(Adds comments, market reaction, background) By Louise Egan OTTAWA, July 31 (Reuters) - Canada's economy grew slightly less than expected in May but at a still-strong 0.3 percent pace from the previous month, setting the stage for a second interest rate hike by the Bank of Canada in September. Statistics Canada said on Tuesday that a surge in retail and wholesale trade mainly drove the growth, putting the economy on track for second-quarter annualized growth of about 3 percent. ...

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