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Canada July GDP up 3.0% in third consecutive monthly gain

FILE PHOTO: People walk in the Eaton Centre shopping mall, as the provincial phase 2 of reopening from the coronavirus disease (COVID-19) restrictions begins in Toronto, Ontario, Canada June 24, 2020. REUTERS/Carlos Osorio/File Photo

Sept 30 (Reuters) - The Canadian economy grew by 3.0% in July, the third consecutive monthly gain following the steep drop in economic activity caused by the coronavirus pandemic, Statistics Canada said on Wednesday.

Economic growth is expected to slow to 1.0% in August, Statistics Canada said in a preliminary flash estimate.

The goods-producing sector posted a 3.2% increase in July, while the service-producing sector grew by 3.0%.

NOTE - All figures are seasonally adjusted. Analysts in a Reuters survey had on average forecast a gain of 3.0% for July.

Reporting by Dale Smith; Editing by Julie Gordon

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