Canada GDP grew 3.0% mom in July, slightly above expectation of 2.9% mom. That’s the three consecutive monthly gain, offsetting some of the steep drops in March and April. But overall economic activity was still about -6% below February’s pre-pandemic level.
All 20 industrial sectors posted increases in July as the agriculture, utilities, finance and insurance as well as real estate rental and leasing sectors surpassed their February pre-pandemic levels, joining retail trade which did so in June.
