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Canadian GDP rises 0.5 percent in July

Friday, 30 September 2016 23:44:40 (GMT+3)   |   San Diego
       
According to Statistics Canada, real gross domestic product grew 0.5 percent in July, led by higher output in the mining, quarrying, and oil and gas extraction sector. The rise in July followed a 0.6 percent increase in June, which had essentially offset an equivalent decline in May.
 
The output of goods-producing industries rose 1.0 percent in July, with mining, quarrying, and oil and gas extraction contributing the most to the gain. Manufacturing, the agriculture and forestry sector, and utilities also increased, while construction decreased.
 
Output in the mining, quarrying, and oil and gas extraction sector increased for the second month in a row, up 3.9 percent in July. The gains in June and July followed four consecutive monthly declines. Mining excluding oil and gas extraction fell 3.1 percent, following a 2.4 percent gain in June. Metallic mineral mining also declined, while coal mining increased.
 
Manufacturing output rose 0.4 percent in July, as a rise in non-durable goods more than offset a decline in durable goods. Durable goods manufacturing fell 1.4 percent in July, with most industry subsectors posting decreases. Transportation equipment manufacturing was down 1.5 percent, primarily as a result of lower output by manufacturers of motor vehicles and parts, and aerospace products and parts.
 
Rail transportation grew 1.6 percent in July, partly because of an increase in the movements of petroleum and chemical products, and grain and fertilizer. Pipeline transportation and truck transportation were also up.
 
Construction declined for a fourth month in a row in July, down 0.8 percent. Residential building, engineering and repair construction decreased, while non-residential building construction was essentially unchanged.


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