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Canada's GDP edges down 0.1 pct in July

OTTAWA
2022-09-01 01:33

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OTTAWA, Aug. 31 (Xinhua) -- Canada's real gross domestic product (GDP) edged down 0.1 percent in July, Statistical Canada announced Wednesday.

According to advance information, GDP output was down in the manufacturing, wholesale, retail trade and utilities sectors, the national statistical agency said, adding that declines were partly offset by increases in the mining, quarrying, oil and gas sector and the agriculture, forestry, fishing and hunting sector.

The agency said real GDP rose 0.8 percent in the second quarter, driven by increased business investment in inventories, non-residential structures, machinery and equipment, and household spending on services and semi-durable goods. This was the fourth consecutive quarterly increase in real GDP.

Growth in the second quarter was moderated by declines in housing investment and household spending on durable goods and by a rise in imports that exceeded exports. Final domestic demand rose by 0.7 percent, following a 0.9 percent increase in the first quarter, the agency said.

Real GDP edged up 0.1 percent in June, following an essentially unchanged May, Statistics Canada said.
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