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COVID-19-hit sectors led Canada’s GDP growth in August – National

Statistics Canada says the economy grew 0.4 per cent in August.

Leading the way in the month was a rise in activity in accommodation and food services, retail trade and air travel, all of which have been hit hard by COVID-19.

The agency also says its preliminary estimate for September suggests real gross domestic product was essentially unchanged for the month.

Read more:
Canadian GDP fell 0.1% in July, rise estimated for August

Statistics Canada says gains in several sectors were more than offset by a significant drop in manufacturing and decline in retail trade.

The estimate suggests the economy grew at an annual rate of 1.9 per cent in the third quarter, but that figure could change once the agency finalizes figures next month.

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Statistics Canada says total economic activity in August was about one per cent below pre-pandemic levels recorded in February 2020, a gap that didn’t change in September.




© 2021 The Canadian Press


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