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Real GDP rose 0.3 per cent in August: StatsCan


 

OTTAWA – Statistics Canada says the economy grew by 0.3 per cent in August, one-tenth of a point better than analyst estimates.

The improvement in Canada’s gross domstic product in August followed a 0.6 per cent advance in July and 0.5 per cent decline in June.

Statistics Canada says the output of goods-producing industries grew 0.4 per cent in August, led by oil and gas extraction.

The agriculture and forestry sector also increased, while manufacturing and utilities declined and construction was unchanged.

The output of service industries increased 0.3 per cent in August, after gaining 0.4 per cent, with almost all major industrial sectors showing growth.

Gains were also recorded in accommodation and food services, wholesale and retail trade, professional services as well as transportation and warehousing services.

The public sector, which combines education, health and public administration, edged up, while finance and insurance edged down.

Note to readers: This is a corrected story. An earlier version said GDP fell in July but it rose.


 
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Real GDP rose 0.3 per cent in August: StatsCan

  1. Easy way to get this trend more accurately and faster is to watch oil prices.

    If oil goes up, so is economic activity. if oil prices drop, then a slowdown is in progress. As any real recovery is going to see $150/barrel for oil as demand picks up.

    No need to wait for StatsCan cooked stats.

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