Investments in inventory drove growth in April, May and June, Statistics Canada reported, as Canada’s post-inflation gross domestic product increased for the fourth quarter in a row. Consumer spending on clothes, shoes and out-in-the-world services like travel and restaurants was also a factor. (The Logic)

Talking point: StatCan noted that more people were going into offices and other workplaces at least sometimes, driving the spending on new clothes and eating out. The last major COVID-19 benefit programs also wound down and government transfers declined overall but economic growth in the second quarter still matched the 0.8 per cent growth in the three months before. The continued real growth after the Bank of Canada’s previous moves to cool inflation have BMO and CIBC predicting that the central bank will make another 0.75-point interest-rate hike on Sept. 7, and TD anticipating a less-specific “aggressive” increase.