Canadian GDP flat in August; early estimate points to 0.1% September dip

Canada’s real gross domestic product was unchanged in August for a second consecutive month, Statistics Canada reported on Friday, October 30.

The agency’s monthly GDP release said services-producing industries contracted 0.1%, offsetting a 0.1% increase in goods-producing industries. Retail trade grew 1.2% and manufacturing rose 0.3%, while wholesale trade fell 1.4%.

Statistics Canada’s advance estimate indicates real GDP decreased 0.1% in September. It also estimates the economy grew 0.3% in the third quarter, but both figures are preliminary and may be revised when the official quarterly accounts are released November 30.

The flat August reading shows that gains were uneven across industries rather than a broad expansion. For Québec and Montréal businesses, the national data provide context on demand and activity, but they do not measure local conditions by themselves.

The figures are economic statistics, not a forecast for individual businesses or an investment recommendation.

Featured image: Manufacturing worker by Jay Bhadreshwara via Unsplash, used under the Unsplash Licence. WordPress may resize the original. This is an illustrative stock image and does not depict a business measured in the release.