Canada’s economy posted a strong recovery over the summer. Gross domestic product rose 3% in July. Economists were expecting output to grow by 2.9 per cent in July. Preliminary estimates also show a 1% expansion in August, suggesting that economic activity in August was about 95 per cent of output levels in February. In the US, quarterly GDP figures came in as expected and the employment numbers were more positive than expected. But the news was overwhelmed by what was perceived as a generally “crazy” debate between the presidential candidates. Oil is flat. The equity markets opened higher but the volatility continues. The Canadian dollar is unchanged from yesterday’s close.
