OTTAWA — Statistics Canada will say this morning how the economy fared during the second quarter of the year.
The agency’s initial estimate last month was that real gross domestic product grew at an annualized rate of 2.5 per cent between April and June.
The preliminary figure, which will be finalized this morning for the second quarter, left total economic activity about two per cent below pre-pandemic levels recorded in February 2020.
In addition to finalizing figures for the second quarter and June, Statistics Canada will also give its first look at how the economy fared in July.
BMO chief economist Douglas Porter writes the focus may well be on the July estimate because of disappointing domestic data that suggests retail, wholesale, and manufacturing sales declined in the month.
In July, the Bank of Canada forecasted that the economy would grow overall this year by six per cent.
This report by The Canadian Press was first published Aug. 31, 2021.
