Canada August GDP +0.1% vs +0.2% m/m expected

Author: Adam Button | Category: News

Canada GDP data fro August 2019:

  • Prior was 0.0%
  • GDP +1.3% y/y vs +1.3% y/y expected
  • Prior y/y reading +1.3%
Details:
  • Goods producing +0.2%
  • Services-producing +0.1% (6th consecutive rise)
  • Construction +0.3% vs -0.7% prior
  • Manufacturing +0.5% vs 0.0% prior
  • Wholesale trade -1.3% vs +1.1% prior
  • Retail trade +0.3% vs +0.1% prior
  • Professional, scientific and technical services sector was up 0.7%
  • The mining, quarrying, and oil and gas extraction sector +0.1% vs -3.6% prior
This is a bit on the soft side as the wholesale sector dragged growth lower but that was due to an unwind of a huge round of imports of pharma products from Germany and Switzerland a month earlier.
GDP by industry
In a separate report, the September industrial product prices was down 0.1% compared to +0.2% expected. The raw materials price index was much softer at 0.0% vs +2.5% expected. Those numbers are rarely market movers.
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