The Canadian economy suffered its worst three-month stretch on record in the second quarter as the economy came to a near halt in April before starting to recover in May and June.
Expressed at an annualized rate, real gross domestic product fell 38.7 per cent in the second quarter, the worst posting on record.The rebound is expected to be equally sharp in the ensuing three-month stretch over July, August and September. Financial data firm Refinitiv says the average economist estimate is for an annualized growth rate of 47.6 per cent for the quarter.
The firm also says the average economist estimate is for a 0.9 per cent increase in real GDP for September, which Statistics Canada will also unveil this morning.
Source: Financial Digest (financialdigest.net)
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