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October 01, 2018

Canada's gross domestic product increased 0.2% in July

Statistics Canada announced that the country's gross domestic product increased 0.2% in July after essentially no change in June. Twelve of 20 sectors were up, led by growth in manufacturing, wholesale trade, utilities and transportation and warehousing.

According to the Federal agency, the manufacturing sector was up 1.2% in July, its strongest growth since November 2017, as output of both non-durable and durable manufacturing rose.

The 1.4% growth in wholesale trade in July more than compensated for the 1.2% decline in June. The growth in the sector was broad-based as eight of the nine subsectors rose.

Transportation and warehousing services grew 0.9% in July, in tandem with higher manufacturing and wholesale activity. Leading the growth was a 4.8% rise in rail transportation due to increased rail movement of petroleum, chemicals, metals and minerals, along with grain and fertilizer products.