Q3 2020 GDP Released

Statistics Canada released the 2020 third quarter GDP. The economy grew 8.9% in real terms in Q3 compared to Q2; this is an annualized rate of 40.6% Growth is less than anticipated (StatsCan's flash estimate for Q3 was about 46%), but was still a record-breaking level. Non-residential building activity decreased by 0.3% compared to the second quarter. so there is slight continuing weakness in our sector. You can read the StatsCan release here.