World

Canada's GDP flat in August

OTTAWA
2023-11-01 04:22

Already collect



OTTAWA, Oct. 31 (Xinhua) -- Canada's real gross domestic product (GDP) was essentially unchanged for a second consecutive month in August, Statistics Canada said Tuesday.

Factors such as higher interest rates, inflation, forest fires and drought conditions continued to weigh on the economy, the national statistics agency said.

According to the agency, services-producing industries edged up 0.1 percent in the month, while goods-producing industries contracted 0.2 percent.

Advance information indicates that the country's real GDP by industry was also unchanged in September, with decreases in mining, quarrying, and oil and gas extraction and utilities partially offset by increases in the construction and public sectors.

As a result, Canada's real GDP in the third quarter of 2023 was essentially unchanged, the statistics agency said.
Add comments

Latest comments

Latest News
News Most Viewed