Canada’s GDP falls by 0.1 per cent in July
Posted September 30, 2010 8:57 am.
This article is more than 5 years old.
OTTAWA – Canada’s gross domestic product fell by 0.1 per cent in July, the first time the economy has contracted in 11 months.
Statistics Canada reported Thursday manufacturing, retail and wholesale trade, construction and forestry all posted decreases.
Increases were recorded in the mining sector and, to a lesser extent, in some financial industries and the public sector.
Manufacturing decreased 0.7 per cent in July, with 11 of the 21 major groups retreating.
Construction declined 0.5 per cent, forestry and logging receded by 4.6, utilities declined 0.4.
The home resale market fell significantly for a third straight month, retail trade fell 0.5 per cent, wholesale trade edged down 0.2.
The mining sector rose 1.1 per cent in July, while the finance and insurance sector grew 0.1.
