Canada’s economy beat expectations in August but likely slowed in September

Statistics Canada says the pace of economic growth slowed in August as real gross domestic product grew 1.2 per cent, compared with a 3.1 per cent rise in July.

The August figure was stronger than the average forecast of 0.9 per cent for August provided by economists polled by financial data firm Refinitiv.

But in a preliminary estimate, Statistics Canada says growth for September slowed to about 0.7 per cent.

The agency says overall economic activity was still about five per cent below the pre-pandemic level in February.

 

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