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Canadian economy ekes out modest 0.1% gain in August

Click to play video: 'Bank of Canada governor discusses economic forecast amid slowing global growth' Bank of Canada governor discusses economic forecast amid slowing global growth
Bank of Canada governor Stephen Poloz held a news conference on Wednesday to discuss Canada's economic forecast in the face of slowing global growth, and their decision to hold steady the key interest rate at 1.75%. – Oct 30, 2019

Statistics Canada says real gross domestic product grew 0.1 per cent in August, following no change in July. Economists on average had expected growth of 0.2 per cent for the month, according to financial markets data firm Refinitiv.

READ MORE: Bank of Canada holds rate at 1.75%, says Canada’s ‘resilience’ will be ‘tested’

Statistics Canada says 14 out of 20 industrial sectors posted gains. A rebound in manufacturing helped goods-producing industries rise 0.2 per cent after two months of declines. The manufacturing sector grew 0.5 per cent as durable manufacturing rose 1.0 per cent, while non-durable manufacturing fell 0.2 per cent.

Services-producing industries edged up 0.1 per cent. This report by The Canadian Press was first published Oct. 31, 2019.

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