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