OTTAWA—Statistics Canada says the economy appears to have grown in the second quarter of the year despite two months of setbacks. The agency says its preliminary estimate is that the economy grew at an annualized rate of 2.5 percent between April and June. Real gross domestic declined by 0.5 percent in April and the agency said Friday that May saw a decline of 0.3 percent. The decline put total economic activity about two percent below pre-pandemic levels seen in February 2020. Statistics Canada says its preliminary estimate is that real GDP grew by 0.7 percent in June as pandemic restrictions started to ease across the country. The agency says that with growth in June, total economic activity was about one percent below pre-pandemic levels. The early estimate for the second quarter just outpaced the Bank of Canada’s most recent expectations. Earlier this month, the central bank forecasted that the economy …
Statistics Canada Says Economy Appears to Have Grown in Second Quarter
July 30, 2021
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