Canada's GDP in August came in at $2.082 trillion during the month. That means there's a good chance that Canada's economy has not grown in any meaningful way since May. The numbers for August were worse than the slight 0.1 per cent uptick that economists were expecting — and worse than the 0.1 per cent uptick that the data agency had forecast in its preliminary estimate. That leaves the third quarter showing no growth and actually a slight contraction according to these monthly GDP numbers, which is well below the Bank of Canada's 0.8 per cent growth projection, said Tiago Figueiredo, an economist with Desjardins. The data agency previously reported that the economy shrank in the April-to-June quarter, so the numbers released Tuesday suggest that Canada's economy hasn't grown for at least two quarters in a row.

Source: CBC News October 31, 2023 15:09 UTC