Categorized | CANADA

Canada’s economy pauses in July, no growth from June: StatsCan

Posted on 29 September 2017 by admin

 

Canada dollar loonie

Loonies are displayed on a map of North America in Montreal on Jan. 9, 2014. (THE CANADIAN PRESS/Paul Chiasson)


Courtesy: The Canadian Press
Published Friday, September 29, 2017.

OTTAWA — Statistics Canada says the economy took a pause in July, the first month in 2017 that showed no growth.

The Ottawa-based agency says gross domestic product was essentially unchanged, at 0 per cent growth in July compared with June, which marked the eighth month in a row of GDP growth.

  • Goods-producing industries saw a contraction of 0.5 per cent in July while service industries had overall growth of 0.2 per cent.
  • The oil and gas subsector shrank 1.8 per cent, with declines in both conventional and non-conventional production.
  • The manufacturing sector also fell 0.4 per cent overall, mostly because of declines in motor vehicle manufacturing and parts.
  • Growth in services was led by wholesale trade, which was up 2.0 per cent, the highest monthly gain since September 2014.

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