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Canadian economic growth cools to 1.2% in August

The Canadian economy grew by 1.2 per cent in August, Statistics Canada reported Friday. 

That marked the fourth straight month of growth following the steepest drops on record back in March and April amid pandemic lockdowns.

August’s figure was down from the 3.1 per cent expansion seen in July.

Despite the recent string of growth, overall economic activity is still about five per cent below February’s pre-pandemic level, Statistics Canada said.

More to come


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