6 TSX stocks to watch as Canada’s GDP climbs 0.1% in June

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Highlights

  • Canada’s GDP reportedly spiked by 0.1 per cent in June this year helped the client-facing industries
  • The accommodation and food service in Canada jumped by 0.8 per cent in June
  • The transportation and warehousing sector also jumped by 0.1 per cent this month

Canadians looking to invest in the stock market could explore sector-specific stocks after the Statistics Canada report on the Gross Domestic Product (GDP) for June was released on Wednesday, August 31. Investors could look at the performances of stocks like Restaurant Brands (TSX: QSR), MTY Food (TSX: MTY), Transat AT (TSX: TRZ) and Mullen Group (TSX: MTL).

Canada’s GDP spiked by 0.1 per cent in June this year, helped by client-facing industries, which benefitted as the data agency stated that the Canadian government lifted COVID-19 mandates and border restrictions on June 20. The accommodation and food service increased by 0.8 per cent, driven by increased overseas and US visitors in Canada this month.

The transportation and warehousing sector also jumped by 0.1 per cent in June. Further, the entertainment and recreation sector increased by 1.8 per cent in June, which could draw attention to stocks like Corus (TSX: CJR.B).

Keeping these GDP figures in mind, Kalkine Media® has picked the following seven TSX-listed stocks that one can explore right now.


 


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