"The Canadian economy was flat in August as high interest rates continued to weigh on consumers and businesses, while an early forecast suggests it grew at an annualized rate of one per cent in the third quarter."
"Statistics Canada's gross domestic product report noted that growth in services-producing industries in August was offset by declines in goods-producing industries, with the manufacturing sector being the largest drag on the economy."
"TD economist Marc Ercolao mentioned, 'We don't think this will ring any alarm bells for the [Bank of Canada] but it puts more emphasis on their fears around a weakening economy.'"
"The central bank has acknowledged repeatedly that the economy is weak and that growth needs to pick back up, while their decisions will be based on incoming economic data."
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