Statistics Canada announced that Canada's real gross domestic product (GDP) grew 0.2% in July, after edging down (-0.1%) in June.

The Federal Agency says the first increase in four months was predominantly driven by expansion in the goods-producing industries, which rebounded with a 0.6% increase in July, following three consecutive months of contraction, as all sectors in this grouping expanded.

Services-producing industries edged up 0.1% in July, with increases in wholesale trade and real estate and rental and leasing tempered by a decline in retail trade. Overall, 11 of 20 industrial sectors expanded in July.

The mining, quarrying, and oil and gas extraction sector expanded 1.4% in July, driven by broad-based expansions across all subsectors. Transportation and warehousing rose 0.6% in July, following a 0.7% drop in June.

The manufacturing sector rose 0.7% in July, partially offsetting a 1.5% contraction in June, driven by increases in both durable and non-durable manufacturing industries.

 

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