Goods sectors lift Canadian economic growth in August

By Leah Schnurr

OTTAWA (Reuters) – The pace of Canadian economic growth slowed as expected in August, data from Statistics Canada showed on Tuesday, reinforcing expectations that the Bank of Canada will maintain its cautious stance.

The 0.2 percent advance was in line with a Reuters poll of economists. July’s growth was revised lower to 0.4 percent from an initially reported 0.5 percent increase.

While that supported expectations that the economy bounced back in the third quarter, economists expect the strength of the rebound will wane in the final quarter of the year. The economy contracted in the second quarter due to the …
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