Canada's Economy Stalls in August for 2nd Straight Month: StatCan
Canada’s GDP remained stagnant in August after remaining unchanged in July, according to Statistics Canada. The statistics agency reported on Oct. 30 that the country’s economy did not grow in August, falling short of the its projection of 0.2 percent growth. StatCan said out of the 20 industrial sectors, nine of them expanded that month. […]
TL;DR
- Canada's GDP remained stagnant in August.
- This is the second consecutive month of no economic growth, following an unchanged July.
- Statistics Canada projected 0.2 percent growth but fell short.
- Nine out of twenty industrial sectors expanded in August.
- Significant growth was observed in motor vehicle and parts sales (1.8%), general merchandise retailers (1.5%), and food and beverage retailers (1.3%).
- The manufacturing sector increased by 0.3%, led by machinery manufacturing (3.8%).