Canadian GDP for mining, construction and manufacturing down in July

Tuesday, 01 October 2019 20:49:34 (GMT+3)   |   San Diego

According to Statistics Canada, following four months of growth, real gross domestic product was essentially unchanged in July as a decline in goods-producing industries was offset by an increase in services-producing industries.

Goods-producing industries were down 0.7 percent in July as output from all subsectors declined, with the exception of utilities. Services-producing industries were up for the fifth consecutive month, rising 0.3 percent as the majority of subsectors grew.

The mining, quarrying, and oil and gas extraction sector contracted 3.5 percent in July, as activity across all subsectors declined. This was the largest decrease in the sector since May 2016. Mining and quarrying, excluding oil and gas extraction, edged down 0.1 percent as declines in metal ore mining (-0.4 percent) and non-metallic minerals mining (-0.6 percent) were partly offset by a 5.3 percent increase in coal mining.

The construction sector contracted 0.7 percent in July, largely offsetting the growth observed in the previous two months. Residential construction was down 1.0 percent as an increase in single-house construction was offset by a decline in multi-unit dwellings construction and in-home alterations and improvements. Engineering and other construction decreased 0.7 percent while repair construction was down 1.1 percent. Non-residential construction (+0.7 percent) was up for the seventh time in eight months as activity in the commercial, industrial and public sectors increased.

Manufacturing edged down 0.1 percent in July following a 1.3 percent decline in June, as an increase in inventory formation moderated some of the sales declines reported by the Monthly Survey of Manufacturing. A decrease in durable manufacturing (-0.9 percent) more than offset an increase in non-durable manufacturing (+0.7 percent).

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