Canadian economy grew slightly in July, GDP up 0.1%: Statistics Canada

The Canadian economy grew slightly in July with the latest reading on real gross domestic product coming in higher than expected.

Statistics Canada says the economy grew by 0.1 per cent, outperforming its preliminary estimate that pointed to a contraction of 0.1 per cent.

The federal agency says growth in the goods-producing industries was partially offset by a decline in the services-producing industries.

Statistics Canada also notes the mining, quarrying, oil and gas sector grew by 1.9 per cent in July, following slight declines in the two previous months.

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The latest reading follows similar growth in June, when the economy expanded by 0.1 per cent.

A preliminary estimate for August indicates real GDP for that month was essentially unchanged.

More to come.

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