Sep 29, 2023
By Jeremy Logan
According to Statistics Canada, real gross domestic product was largely unchanged in July, following a 0.2% decline in June.
The agency reports services-producing industries grew 0.1% in the month, while goods-producing industries contracted 0.3%.
The manufacturing sector was the largest negative contributor for the month, falling 1.5%.
Statistics Canada says after moving lower in June due to forest fires, the mining and quarrying sector, excluding oil and gas, as well as the accommodation and food services sector rose in July.
With the exclusion of oil and gas, the mining and quarrying sector grew 4.2% in July, while accommodation and food services gained 2.3%.
The agency says that its early estimate for August points to an increase of 0.1 % for the month, with increases in the wholesale trade and finance and insurance sectors, partly offset by decreases in the oil and gas extraction and retail trade sectors.