Statistics Canada to unveil GDP reading for July

OTTAWA — Statistics Canada will say today how the economy fared in July with expectations that it grew, albeit at a slower pace than in June.

The average economist estimate for GDP growth in July is three per cent, according to financial data firm Refinitiv.

article continues below

Statistics Canada will also provide a preliminary estimate for economic growth in August in its release this morning.

The agency said last month that gross domestic product increased by 6.5 per cent in June, building on a 4.8 per cent gain in May after the plunge in March and April due to the pandemic.

The Bank of Canada and a host of experts have warned that gains likely wouldn't be sustained at the same rate.

Statistics Canada hinted that gains may slow in July when last month it provided a preliminary estimate of a three per cent rise in GDP for the month.

This report by The Canadian Press was first published Sept. 30, 2020.

Read Related Topics

© Vancouver Courier

Popular Vancouver Courier

Sign Up For Our e-Newsletter!
Find the Vancouver Courier Newspaper