Canada GDP unchanged in August for second month, September contraction eyed

Statistics Canada reported on Oct. 30, 2026, that Canada’s real GDP was essentially unchanged in August, a second straight flat month and short of the 0.2% growth economists expected. Retail trade rose 1.2%, led by motor vehicle and parts dealers. Manufacturing grew 0.3%. Rail transportation rose 3.6%. Finance and insurance grew 0.2%. Wholesale trade fell 1.4%, mainly on lower imports of passenger cars and light trucks. The public-sector aggregate fell 0.2%. Utilities contracted 0.4% on nuclear plant maintenance outages in Ontario and New Brunswick. Mining, quarrying and oil and gas extraction was flat. July had also been flat after June’s 0.4% gain. Coverage described goods-producing industries edging higher while services-producing industries declined slightly. StatCan’s advance estimate points to a 0.1% September contraction, with declines indicated in manufacturing and in mining, quarrying and oil and gas extraction. Industry-level numbers imply about 1.3% annualized third-quarter growth after 3.8% the prior quarter. Compared with a year earlier, GDP expanded 1.5%. The September flash may be revised. No material factual disputes appear across the rated outlets.