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July GDP Was Flat Despite Construction, Utilities Gains: StatCan
Construction rose 1.3% and utilities posted their strongest month of the year, but declines in manufacturing and trade left overall growth unchanged.
- Statistics Canada reported that the national economy remained essentially unchanged in July, following a strong second quarter with an annualized growth rate of 3.3 per cent.
- The construction sector defied broader stagnation by posting a 1.3 per cent gain in July, marking its fourth consecutive month of growth after a difficult start to the year.
- Broad-Based declines weighed on the monthly results, with manufacturing, mining, oil and gas extraction, retail trade, and wholesale trade all reporting weakness.
- A surge in electricity generation and transmission powered the utilities sector to its strongest month of growth all year, offsetting industrial losses.
- StatCan's initial estimates project a 0.2 per cent gain in August, though these early figures remain subject to revision next month.
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Gross domestic product growth remained virtually unchanged in July, according to Statistics Canada, after a second quarter marked by a strong economic recovery.
·Montreal, Canada
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Canada's economic growth unchanged in July, August likely to expand 0.2%
OTTAWA — 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. Both the goods-producing industries and services-producing industries were largely unchanged in …
·Seoul, Korea (the Republic of)
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Coverage Details
Total News Sources30
Leaning Left16Leaning Right0Center9Last UpdatedBias Distribution64% Left
Bias Distribution
- 64% of the sources lean Left
64% Left
L 64%
C 36%
Factuality
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