Canada's real gross domestic product was essentially flat in August, the second month in a row without growth, and early figures point to a 0.1 per cent fall in September, Statistics Canada said on Friday, CTV News reports. Forecasters had expected 0.2 per cent growth.
Wholesale trade fell 1.4 per cent, oil sands output was held back by maintenance in northern Alberta, and nuclear plant outages in Ontario and New Brunswick weighed on utilities. Retail sales, up 1.2 per cent, and manufacturing were among the gains.
StatCan's flash estimate still puts third-quarter growth at an annualised 1.3 per cent, down from 3.3 per cent in the second quarter. The figures came two days after the Bank of Canada raised its key interest rate to 2.5 per cent, its first increase in more than three years.
Source: CTV News
