In August, GDP increased a seasonally adjusted 0.3% over the previous month, which was below July's 0.4% increase but above market expectations of a 0.2% rise. On an annual basis, GDP expanded 2.4% in August, at the same pace as in July. That said, the trend continues to point downwards, with the annual average growth rate inching down from 3.2% in July to 3.1% in August. The August print mainly reflected robust growth in the energy sector, which expanded 2.8% month-on-month. In the mining, oil and gas extraction category, output soared from 0.7% growth in July to 3.3% in August. Furthermore, finance, insurance and real estate services, which account for approximately 20% of GDP, expanded 0.6% in August (July: +0.1% mom). The Central Bank projects the economy to grow 2.1% this year and 1.9% in 2012.
GDP expands in August on energy sector
October 31, 2011
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Canada Economic News
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.
September 30, 2016
In July, GDP grew a strong 0.5% over the previous month in seasonally-adjusted terms.
September 23, 2016
In August, seasonally-adjusted consumer prices recorded a 0.1% decrease over the previous month, which was down from the flat figure recorded in July and marked the lowest reading in six months.