The Canadian economy expanded 0.1 per cent in August, following 0.3 per cent growth in July. Growth in real GDP, as measured at the industry level, was led by gains in the manufacturing, mining and oil and gas sectors while retail trade and the finance sector were a drag on growth.
The Canadian economy has posted three consecutive months of economic growth, putting worries of a deepening energy sector driven recession to rest. Third quarter real GDP growth is currently tracking at a relatively strong pace, likely in a range of 2.6 to 3 per cent.
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