Canada Economy on Track to Bounce Back in Third Quarter
At the start of the third quarter, goods-producing sectors led the stronger-than-expected growth.
Photographer: Adetona Omokanye/BloombergThe Canadian economy appears set to avoid recession this year with a third-quarter rebound.
Industry-based gross domestic product expanded 0.2% in July, beating the median economist estimate in a Bloomberg survey, and Statistics Canada’s advance data suggested output was unchanged in August. These were the first months since April that the economy didn’t see monthly contractions.