Statistics Canada says real gross domestic product pulled back by 0.1 per cent in August, hit by declines in manufacturing and mining, quarrying and oil and gas extraction.
The agency says goods-producing industries contracted by 0.7 per cent for the month, while services-producing industries edged up 0.1 per cent. Twelve of 20 sectors improved for the month, but weakness in manufacturing and mining, quarrying and oil and gas extraction more than offset the gains.
Get weekly money news
READ MORE: Canada’s economy records blockbuster growth, raising chance of another rate hike
- IBC estimates $230M in insured damage claimed from Edmonton storms
- Alberta First Nation sues Ottawa over $5 treaty annuity, argues amount stuck in 1899
- Jobs hang in the balance as Ekati diamond mine in N.W.T. closing early
- WestJet flight attendants hold information pickets as strike vote takes place
The manufacturing sector contracted 1.0 per cent for the month as both durable and non-durable manufacturing declined. Non-durable manufacturing fell 2.0 per cent, while durable manufacturing slipped 0.1 per cent.
The mining, quarrying, and oil and gas extraction sector fell 0.8 per cent in August.
Comments
Want to discuss? Please read our Commenting Policy first.