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- Canadian GDP was essentially unchanged in July as 11 of 20 industrial sectors grew
Canadian GDP was essentially unchanged in July as 11 of 20 industrial sectors grew
After rising for eight consecutive months, real gross domestic product (GDP) was essentially unchanged in July as 11 of 20 industrial sectors grew.
Goods-producing industries contracted 0.5%, the first decrease in five months, largely as a result of declines in mining, quarrying and oil and gas extraction and in manufacturing. Services-producing industries increased 0.2%.
The mining, quarrying, and oil and gas extraction sector contracted 1.2% in July, mainly due to a 1.8% decline in the oil and gas extraction subsector.
Non-conventional oil extraction was down for the fourth time in five months, decreasing 3.0%. Conventional oil and gas extraction decreased for the first time in five months, declining 0.8% as a result of lower crude petroleum extraction.
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