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Canadian economy posts annualized gain of 5.4% in Q3, October GDP seen up 0.8% -Breaking

© Reuters. FILE PHOTO – A crane can be seen above Brookfield’s Bay Adelaide North office tower, which will be the third to go up at their Bay Adelaide Centre property in Toronto (Ontario, Canada) April 14th 2021. REUTERS/Chris Helgren/File photo

OTTAWA (Reuters] – Canada’s economic growth was 5.4% annually in the third quarter. This beat expectations. However, real GDP likely rose 0.8% to October after a 0.1% increase in September. Statistics Canada data on Tuesday showed.

Statscan reported a 3.2% decrease in its quarterly annualized contraction for the second quarter, down from 1.1%. Reuters polled analysts who expected 3.0% annualized increase in third quarter, and 0.1% growth in September.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.