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Canada’s GDP shrank 0.1% in August

Canadian economic growth dipped slightly in August, mostly due to weakness in the resources and manufacturing sectors.
Canadian economic growth dipped slightly in August, mostly due to weakness in the resources and manufacturing sectors. THE CANADIAN PRESS/Jeff McIntosh

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.

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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.

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