Statistics Canada says economy appears to have grown in second quarter

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OTTAWA — Statistics Canada says the economy appears to have grown in the second quarter of the year despite two months of setbacks.

The agency says its preliminary estimate is that the economy grew at an annualized rate of 2.5 per cent between April and June.

Real gross domestic declined by 0.5 per cent in April and the agency says today that May saw a decline of 0.3 per cent.

The decline put total economic activity about two per cent below pre-pandemic levels seen in February 2020.

Statistics Canada says its preliminary estimate is that real GDP grew by 0.7 per cent in June as pandemic restrictions started to ease across the country.

The agency says that with growth in June, total economic activity was about one per cent below pre-pandemic levels.

This report by The Canadian Press was first published July 30, 2021.

The Canadian Press

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