Canada's economy rebounded strongly in the third quarter and is expected to avoid a technical recession this year.

The Canadian economy showed a strong rebound in the third quarter, and it appears to be on track to avoid a technical recession this year. According to industry calculations, GDP grew by 0.2% in July, higher than the median economist forecast, while preliminary data from Statistics Canada showed that output remained unchanged in August. This is the first time the economy has not declined for two consecutive months since April. Assuming zero growth in September, the annualized growth rate for the Canadian economy in the third quarter would reach 0.7%, a significant improvement from the contraction in the second quarter. Economists predict slightly lower growth of 0.2% for the Canadian economy. However, the Bank of Canada's forecast is more optimistic, projecting a growth of 1%, but this forecast may be revised with the release of the interest rate decision and monetary policy report on October 29th.