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
- ‘Extraordinarily innovative’ oil sector can weather increased carbon price: ATCO CEO
- Trans Mountain and its federal parent see case for Ottawa owning pipeline for good
- Consumer insolvencies highest since 2009 as Canadians struggle with debt
- Calgary-based South Bow says demand strong for oil shipments to U.S. Gulf Coast
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.