July GDP growth in Canada exceeded forecasts


According to the Statistics Canada, the country's GDP increased by 0.2% in July after a zero change in the previous month. According to analysts, the Canadian economy was expected to grow by 0.1%. The production of goods increased in July by 0.3%, services — by 0.2%. The rise in the manufacturing sector was 1.2%, noting the strongest growth since November 2017. In the wholesale trade, growth was 1.4% due to an increase in 8 out of 9 subsectors. The increase in transport and warehouse services amounted to 0.9% in July. In the sphere of public services, the most significant growth was registered since December 2016 — by 2.1%. The real estate sector showed an increase of 0.3%, while the construction sector weakened by 0.6%, declining for the third time in 4 months.

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