Canadian retail sales rise 0.3 percent in May

(July 24, 2012) -- "A rebound in utilities output following three consecutive monthly declines and a likely strengthening in construction spending are also expected to support a modest monthly gain in real GDP on a production basis," said Desjardins. "These monthly increases tee up for Canada's economy to grow at a slightly firmer pace in the second quarter of 2012 than the 1.9 percent rate of the previous two quarters. Moderate growth and the persistence of uncertain global growth prospects will keep the Bank of Canada on the sidelines."