Canada economic growth flat in July; August seen expanding 0.2%
Statistics Canada reported growth unchanged in July, with goods and services largely flat; manufacturing fell 0.9% while utilities rose 1.7%. An advanced estimate points to 0.2% monthly growth in August.
By Promit Mukherjee OTTAWA, Sept 29 (Reuters) — Canada's economic growth was flat in July, data showed on Tuesday, in line with expectations and signaling a slower start to the third quarter after a solid growth in the prior three months quarter. This was after three straight months of positive growth and comes right before a new set of tariffs from the United States hit Canada in August. Here are the details: - Both the goods-producing industries and services-producing industries were largely unchanged in July, Statistics Canada said. The good-producing sectors contribute roughly a quarter of the gross domestic product.
9% in July, posting its first decrease in four months. 2% in July. 5%, down for the second month in a row, StatsCan said. 3% respectively, offsetting most of the decline, the statistics agency said.
The construction sector rose for a fourth consecutive month. 4% in July. The wholesale trade category was among the biggest contributors of growth in June. 3% in July, its largest monthly growth rate since in the last 20 months.
2% in July, with real estate expanding for the sixth consecutive month. 2%. The growth will primarily be led by higher output in mining and quarrying and retail trade, StatsCan said. 5% in the third quarter.
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