TORONTO (Pakistan Point News / Sputnik - 01st October, 2020) Canada's gross domestic product rose by 3 percent in July, but still remains 6 percent below pre-coronavirus pandemic levels, Statistics Canada said in a report for July on Wednesday.
"Real gross domestic product (GDP) grew 3.0 percent in July, following a 6.5 percent increase in June," Statistics Canada said. "Overall economic activity was still about 6 percent below February's pre-pandemic level."
Canada's economy grew by 4.8 percent in May, following two straight months of record declines in March and April due to the coronavirus-induced shutdown.
Statistics Canada said all 20 of the country's industrial sectors saw increased economic activity.
On Tuesday, the Office of the Parliamentary Budget Officer (PBO) said in a report that the Canadian economy is expected to recover to the pre-coronavirus pandemic levels by early 2022.
