(Ottawa) Statistics Canada is due to reveal Tuesday morning how the Canadian economy fared in the third quarter of the year.
Late last month, the agency initially estimated that real gross domestic product had grown at an annual rate of 1.9% between July and September.
The figure is due to be clarified on Tuesday after the agency received additional data to determine whether the economy has rebounded from a 1.1% contraction in the previous three months.
Consensus expectations of economists are that GDP grew during the quarter at an annual rate of around 3%, which would be lower than the Bank of Canada’s projection of 5.5%.
CIBC senior economist Royce Mendes says some growth that did not occur in the third quarter could be pushed back to the last quarter of 2021, but could be affected by flooding in British Columbia.
TD Bank Senior Economist Sri Thanabalasingam also warns that growth through the end of the year could be affected by the Omicron variant of COVID-19 which could be more transmissible.