“There is no sugar coating this one, it's a sour result” said BMO chief economist Douglas Porter.
Canadian Press via The Globe & Mail, July 31, 2015. "Real gross domestic product fell 0.2 per cent in May 2015 due mostly to weakness in manufacturing, mining, quarrying and oil and gas extraction as well as wholesale trade." Meanwhile as the private sector switches back to saving, the Feds are goosing the electorate.
"Amid election rumours... the federal government
has been making big funding announcements."
The federal and Ontario governments are announcing a multimillion-dollar loan and grant package to Toyota... Toyota is investing $421-million in expansion and upgrades. The Ontario government is giving the company a $42-million grant, and the federal government is providing a repayable $58-million loan... Right now, there are 18 approved projects, worth $33.4-million, under the federal government’s Small Communities Fund (another infrastructure partnership fund between the provincial and federal governments). The Globe & Mail, July 30, 2015