
Statistics Canada preliminary estimate for August real GDP growth is 1 per cent, which means that third quarter real GDP growth is currently tracking at close to 10 per cent, or about 40 per cent on a quarterly annualized basis. Still, even that unprecedented level of growth would still leave the Canadian economy about 4 per cent below its pre-pandemic level. From there, we anticipate a strong, albeit slower rate of growth as the economy heals and enters a “recuperation phase.”

Source - BCREA