Canada GDP flat in July after expansion pause, August seen up 0.2%

Canada’s GDP was essentially unchanged in July after June growth was revised up to 0.4%, marking a pause after three months of expansion. Construction rose 1.3% for a fourth consecutive month and utilities also grew, but declines in manufacturing, mining and oil and gas extraction, and retail and wholesale trade offset those gains. Statistics Canada’s preliminary estimate points to 0.2% growth in August, with gains in mining and retail partly offset by weaker oil and gas extraction. The figures suggest the economy regained some momentum after July’s stall, though growth in the third quarter is tracking below the strong pace recorded in the second quarter.