In July, GDP increased a seasonally adjusted 0.3% over the previous month, which was above June's 0.2% increase but in line with market expectations. On an annual basis, GDP accelerated from a 2.1% increase observed in June to a 2.3% expansion in July. That said, trend continues to point downwards, with the annual average growth rate edging down from 3.4% in June to 3.2% in July. The solid July print mainly reflected an improvement in manufacturing, which rebounded from a 0.6% contraction in June to a 1.4% increase in July. Furthermore, within service-providing industries, wholesale trade added 1.5% and transportation gained 1.8% in July. Finance, insurance and real estate services, which account for approximately 20% of GDP, expanded 0.1% in July, below the 0.3% increase in June. The Central Bank projects the economy to grow 2.8% this year and 2.6% in 2012.
GDP expands in July on strong manufacturing
September 30, 2011
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Canada Economic News
October 21, 2016
In September, seasonally-adjusted consumer prices increased 0.2% from the previous month, which contrasted the 0.1% decrease recorded in August and marked the highest print in three months.
October 19, 2016
At its 19 October policy meeting, the Bank of Canada (BoC) decided to maintain its target for the overnight rate at 0.50%, despite a weaker inflation and growth outlook.
October 11, 2016
The Teranet-National Bank National Composite House Price index rose 0.7% in September from the previous month, which followed the 1.5% increase in August.
October 8, 2016
Seasonally-adjusted annualized housing starts registered 220,600 units in September, according to the government-owned Canada Mortgage and Housing Corporation (CMHC).
October 7, 2016
The Ivey Purchasing Managers’ Index (PMI), sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, increased a seasonally-adjusted 6.1 points in September, rising from 52.3 in August to 58.4.