HomeNewsNewsCanadian economy likely flat in September, August GDP up 0.4%

Canadian economy likely flat in September, August GDP up 0.4%

A construction crane is seen above Brookfield’s Bay Adelaide North, the third office tower to be constructed at their Bay Adelaide Centre complex property in Toronto, Ontario, Canada April 14, 2021. REUTERS/Chris Helgren

OTTAWA, Oct 29 (Reuters) – The Canadian economy was most likely flat in September, following a gain of 0.4% in August, with third quarter annualized GDP likely rising 1.9%, data showed on Friday.

As of September, Canada’s GDP remains about 1% below pre-pandemic levels, Statistics Canada data showed.

The Bank of Canada on Wednesday forecast the Canadian economy would expand by 5.5% on a annualized basis in the third quarter, up from a 1.1% contraction in the second quarter. It also signaled a rate hike could come as soon as April 2022. read more

The August gain of 0.4% was behind analyst estimates of 0.7%. Overall, 15 of 20 industrial sectors posted increases, with services-producing industries up by 0.6% while…

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