October 30, 2020, by Shelly Hagan and Erik Hertzberg
Canadaâ€™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.
What does this mean?
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