Canada’s economy regained momentum in the second quarter, reinforcing the case for a July rate hike even as inflation slowed last month. Preliminary data suggest gross domestic product expanded 0.4% in May, Statistics Canada reported Friday in Ottawa, led higher by manufacturing, wholesale trade and real estate. That followed a flat reading in the previous month, missing expectations for a 0.2% increase in a Bloomberg survey of economists, in part due to a federal workers’ strike. March growth was revised upward to 0.1%. The economy is now on track to expand at a 1.4% annualized rate in the second quarter, if June ... (full story)