Canada’s Economy Grows Third Straight Month on Oil Recovery
- GDP expands 0.2% in August, matching consensus forecast
- Need for interest-rate cut remains ‘very much an open debate’
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Canada’s gross domestic product grew for a third month in August as Alberta oil production increased and hot weather in Ontario boosted demand for electricity.
Output advanced by 0.2 percent, Statistics Canada said Tuesday in Ottawa, matching the median forecast in a Bloomberg survey of economists. There were also gains in manufacturing, mining, construction and wholesale sales.