Expectations: Product and Economists

expectations: The measure of real gross domestic product in August matched the expectations of economists, according to Thomson Reuters, and it came as the July figure was revised lower to show an increase of 0.4 per cent compared with an initial reading of 0.5 per cent, according to The Toronto Star. Economists noted that the results so far put the economy on track for a strong bounce back for the third quarter after contracting in the second quarter due to the wildfires in Fort McMurray, Alta. By The Canadian Press Tues., Nov. 1, 2016 Economy grew 0.2 per cent in August, reinforcing expectations of reboundOTTAWA—The economy grew by 0.2 per cent in August, Statistics Canada said Tuesday, reinforcing expectations that the country is poised for a rebound in the third quarter. The increase in August GDP builds further onto the outsized gains in July and June and point to third-quarter annualized GDP growth likely increasing 3.5 per cent, Royal Bank assistant chief economist Paul Ferley wrote in a report. Goods-producing industries rose 0.7 per cent in August, boosted by the mining, quarrying and oil and gas extraction sector, which gained 1.4 per cent. Article Continued Below This outsized gain, though welcome, largely reflects the reversal of the temporary factors that weighed on oilsands production and sent second-quarter growth into negative territory, the report said. (news.financializer.com). As reported in the news.