Q2 GDP Revised Up to 3.0% Amid Growth

The final Q2 GDP estimate showed a growth of 3.0%, exceeding the consensus estimate of 2.9%, driven by increased consumer spending, inventory investment, and business investment, particularly in the retail and transportation sectors. Meanwhile, analysts predict that Canada's GDP will see minimal growth in July, potentially leading the Bank of Canada to cut interest rates more aggressively, as growth remains below earlier forecasts. In Ghana, strong second-quarter growth of 6.9% has fueled expectations for a potential interest rate cut, as inflation decreases from previous highs, although caution is advised due to challenges in other sectors. There is a notable divergence in economic performance across regions, with the U.S. showing solid growth while Canada anticipates slower expansion. Overall, the global economic outlook remains mixed, with central banks weighing growth against inflationary pressures in their monetary policy decisions.