OTTAWA — The Canadian economy was flat in August as high interest rates continued to weigh on consumers and businesses, while a preliminary estimate suggests it grew at an annualized rate of one per cent in the third quarter.
Statistics Canada’s gross domestic product report Thursday says growth in services-producing industries in August were offset by declines in goods-producing industries. A preliminary estimate for September suggests real gross domestic product grew by 0.3 per cent.
Andrew DiCapua, a senior economist with the Canadian Chamber of Commerce, said economic momentum at the start of the summer doesn’t seem to be holding.
“There are signs that September growth is
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