Real GDP rose 0.3 per cent in August: StatsCan

Statistics Canada says the economy grew by 0.3 per cent in August, one-tenth of a point better than analyst estimates.

The improvement in August followed two months of declines, with Canada’s gross domestic product dropping 0.6 per cent in July and 0.5 per cent in June.

Statistics Canada says the output of goods-producing industries grew 0.4 per cent in August, led by oil and gas extraction.

The agriculture and forestry sector also increased, while manufacturing and utilities declined and construction was unchanged.

The output of service industries increased 0.3 per cent in August, after gaining 0.4 per cent, with almost all major industrial sectors showing growth.

Gains were also recorded in accommodation and food services, wholesale and retail trade, professional services, as well as transportation and warehousing services.