Economics
Economy Rebounds in Canada Amid Wider Business Reopenings
- GDP on pace to grow 0.7% in August after 0.1% July contraction
- Strength in services helps offset drag from agriculture
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Canada’s economy returned to growth as consumers headed back to restaurants and entertainment venues, propelling spending on services.
Gross domestic product rose 0.7% in August, Statistics Canada said in a flash estimate from Ottawa. That’s a reversal from July, which showed a 0.1% contraction, according to the report.