Sept 30 (Reuters) – The Canadian economy grew by 3.0% in July, the third consecutive monthly gain following the steep drop in economic activity caused by the coronavirus pandemic, Statistics Canada said on Wednesday.
Economic growth is expected to slow to 1.0% in August, Statistics Canada said in a preliminary flash estimate.
The goods-producing sector posted a 3.2% increase in July, while the service-producing sector grew by 3.0%.
NOTE – All figures are seasonally adjusted. Analysts in a Reuters survey had on average forecast a gain of 3.0% for July.
(Reporting by Dale Smith; Editing by Julie Gordon)
