Canada GDP up 0.4 per cent in August
Posted October 29, 2021 5:42 am.
Last Updated October 29, 2021 6:08 am.
Statistics Canada says the economy grew 0.4 per cent in August.
The rise in the real gross domestic product was led by increases in accommodation and food services, retail trade and transportation, according to Statistics Canada. All those industries were ones hard-hit by the COVID-19 pandemic.
The agency also says its preliminary estimate for September suggests real gross domestic product was essentially unchanged for the month.
Statistics Canada says gains in several sectors were more than offset by a significant drop in manufacturing and decline in retail trade.
The estimate suggests the economy grew at an annual rate of 1.9 per cent in the third quarter, but that figure could change once the agency finalizes figures next month.
Statistics Canada says total economic activity in August was about one per cent below pre-pandemic levels recorded in February 2020, a gap that didn’t change in September.
