Canada Monthly GDP MoM

Canada's GDP is expected to remain unchanged in August 2024, as increases in oil and gas extraction and the public sector were offset by decreases in manufacturing and transportation and warehousing. In July 2024, the economy expanded by 0.2%, higher than preliminary estimate and market expectations of a flat reading. Despite negative impacts from wildfires on transportation and warehousing (-0.4%), the services-producing industries grew 0.2% in July, driven in large part by increases in the retail trade sector (+1%), the public sector (+0.3%), and the finance and insurance sector (+0.5%). Additionally, goods-producing industries edged up 0.1%, with the utilities and manufacturing sectors (+1.3%) contributing the most to growth within this aggregate.