Canada economy grows in August

Image copyright Getty Images Image caption Statistics Canada put the Canadian economy in the black for the first time in more than a year The Canadian economy has grown by 0.4% in August, according…

Canada economy grows in August

Image copyright Getty Images Image caption Statistics Canada put the Canadian economy in the black for the first time in more than a year

The Canadian economy has grown by 0.4% in August, according to statistics Canada.

That brings the annual growth rate for the third quarter of 2018 to 1.5%, the highest since 2017.

The economy added 24,400 jobs in August. StatsCan said that it was the strongest month for net new jobs for the year.

The Canadian dollar is up 0.65 cents from before the data was released to C$1.29.

Earlier this month, the Bank of Canada raised its key interest rate for the first time since July 2017.

It increased rates from 1.75% to 2%.

The bank of Canada cited an economy with “solid fundamentals” and said that recent revisions to employment data “point to a stronger labour market in recent months”.

More …

Canada adds more jobs than expected in August

Canadians go into ‘back to school’ mode

Harvey detours Canadians’ banking habits

Leave a Comment