Top News

Canada July GDP up 3.0% in third consecutive monthly gain

Sept 30 (Reuters) - The Canadian economy grew by 3.0% in July, the third consecutive monthly gain following the steep drop in economic activity caused by the coronavirus pandemic, Statistics Canada said on Wednesday.

Economic growth is expected to slow to 1.0% in August, Statistics Canada said in a preliminary flash estimate.

The goods-producing sector posted a 3.2% increase in July, while the service-producing sector grew by 3.0%.

NOTE - All figures are seasonally adjusted. Analysts in a Reuters survey had on average forecast a gain of 3.0% for July.

(Reporting by Dale Smith; Editing by Julie Gordon)

Did this story inform or enhance your perspective on this subject?
1 being least likely, and 10 being most likely

Recent Stories