Statistics Canada Reports Real GDP Essentially Unchanged In July

Statistics Canada says real gross domestic product was essentially unchanged in July, following a 0.2 per cent decline in June.

The agency says services-producing industries gained 0.1 per cent in the month, while goods-producing industries contracted 0.3 per cent.

The manufacturing sector was the largest negative contributor for the month as it fell 1.5 per cent.

After moving lower in June due to forest fires, Statistics Canada says, the mining and quarrying sector, excluding oil and gas, as well as the accommodation and food services sector rose in July.

With oil and gas excluded, the mining and quarrying sector increased 4.2 per cent in July, while accommodation and food services gained 2.3 per cent.

Statistics Canada says its early estimate for August pointed to an increase of 0.1 per cent for the month with increases in the wholesale trade and finance and insurance sectors, partly offset by decreases in the retail trade and oil and gas extraction sectors.