Canadian economy posts July gain, but second wave of COVID-19 puts fall recovery at risk [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Canadian economy posts July gain, but second wave of COVID-19 puts fall recovery at risk A server wears a face mask as she works at a restaurant in Montreal on July 5, 2020. Graham Hughes/The Canadian Press A server wears a face mask as she works at a restaurant in Montreal on July 5, 2020. The Canadian economy notched another outsized gain in July as pandemic restrictions were relaxed, although a second wave of COVID-19 threatens to complicate the recovery this fall. Gross domestic product rose 3 per cent in July, following a 6.5-per-cent gain in June, Statistics Canada said Wednesday. In a preliminary estimate, Statscan said GDP rose another 1 per cent in August, a deceleration that was not unexpected after the initial snapback of activity. With July’s gain, Canadian GDP is down 5.8 per cent from prepandemic levels in February. Most private-sector forecasters don’t anticipate a full recovery before 2022. “The recovery up to now has been a little faster than we expected, and mostl
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