Voting in the City of Nanaimo? Click here to use our Know Your Vote tool for a custom ranking of Mayor and Council candidates based on how much you agree, or disagree, with them on key issues.
By Canadian Press

StatCan to release August GDP report, estimate for third quarter economic growth

Oct 31, 2024 | 1:02 AM

OTTAWA — Statistics Canada is set to publish its August gross domestic product report, which will include an early estimate for economic growth in the third quarter.

The agency’s preliminary estimate for August suggested the economy did not grow that month.

RBC says it expects the economy remained weak in September as well, dampening growth for the third quarter.

The Bank of Canada projected in its latest monetary policy report that the economy grew at an annualized rate of 1.5 per cent in the third quarter.

The central bank delivered a half-percentage point interest rate cut last week in response to rapidly plummeting inflation.

2026 municipal election
Know Your Vote: Balancing tax increases with essential infrastructure & services
36m ago
101 new units
'Integrated into the landscape:' rental complex planned in Nanaimo's Rock City
2h ago
provincial election
Taxes - hike them or hold them - become theme in B.C. election campaign
5h ago

The Bank of Canada says it now wants to see economic growth pick back up again.

This report by The Canadian Press was first published Oct. 31, 2024.

Nojoud Al Mallees, The Canadian Press

by Canadian Press

More Local News

2026 municipal election
Know Your Vote: Balancing tax increases with essential infrastructure & services
36m ago
101 new units
'Integrated into the landscape:' rental complex planned in Nanaimo's Rock City
2h ago
provincial election
Taxes - hike them or hold them - become theme in B.C. election campaign
5h ago
expensive month
'Must be that personal exceptionalism:' distracted driving increases three-fold on Island roads
8h ago
positive transformation
'I'm so shameful:' Nanaimo OPS drug trafficker avoids jail
21h ago