October 30, 2020, by Shelly Hagan and Erik Hertzberg
Canada’s economy recorded what is likely its last strong months of growth in August and September, as the country braces for an end-of-year slowdown.
Gross domestic product expanded 1.2 per cent in August, Statistics Canada said Friday in Ottawa. The agency also released a preliminary estimate for September, which showed a 0.7 per cent expansion — a fifth straight month of historically elevated readings as the economy rebounded from a sharp contraction from the COVID-19 lockdowns.
With September figures in, the data suggest the economy grew 10 per cent in the third quarter, but things will get much slower from here.
Canadian economy caps strong third quarter before slowdown
What does this mean?
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