Due to the continued moderate growth in the service production industry offsetting the sluggish performance of the commodity production industry, Canada's economic output remained flat in August. The Canadian Statistics Bureau announced on Thursday that GDP in August was basically flat on a month-on-month basis, at 2.232 trillion Canadian dollars (equivalent to 1.605 trillion US dollars). This result is in line with economists' expectations and the Canadian Statistics Bureau's earlier preliminary estimate, where the growth rate for July was revised down to 0.1%. Canada's GDP in August increased by 1.3% year-on-year. The Canadian Statistics Bureau stated that preliminary information indicates a 0.3% month-on-month GDP growth for September, but this estimate is subject to further updates. The forecast suggests that the industry-level growth in the third quarter of this year is equivalent to an annual rate of 1.0%, compared to 2.1% growth in the previous quarter.
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This page is machine-translated. Futubull tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation.