Canadian economy stalled in August, points to September decline: StatsCan
Statistics Canada GDP data for August shows economic growth was essentially flat in August despite a rebound in retail trade that more than offset a decline in July. Wholesale trade, meanwhile, fell 1.4 per cent in August, as most subsectors contracted.
Rebound in retail trade wasn't enough to make up for weakness in wholesale trade, public sector activity
The Canadian Press
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Statistics Canada says the economy stalled for a second month in a row in August amid weakness in the public sector and wholesale trade.
The agency says real gross domestic product was essentially unchanged that month despite a rebound in retail trade that more than offset a decline in July.
Manufacturing output has also grown in five of the last seven months, while a solid month on the railways drove gains in transportation and warehousing.
Wholesale trade, meanwhile, fell 1.4 per cent in August, as most subsectors contracted.
Work to prepare the 2026 census was also winding down in the month, driving widespread contractions in public administration.
StatsCan's early estimates for September suggest real GDP declined 0.1 per cent amid losses in manufacturing and mining, quarrying and oil and gas extraction.
Economists polled by Reuters ahead of the release predicted 0.2 per cent growth for August.
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