Canadian economy ekes out modest 0.1% gain in August

By Staff The Canadian Press

Posted October 31, 2019 8:46 am EST

1 min read

This article is more than 5 years old and some information may not be up to date.

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.

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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.