Canada GDP month-to-month for July 0.0% versus 0.1% estimate

• The advanced GDP estimate was 0.0% last month
• Prior -0.2%
• Advanced GDP MoM 0.0% vs 0.1% estimate
• Service producing industries rose 0.1% in the month
• Goods producing industries that fell -0.3%
• Overall 9 of 20 sectors posted increases
• Manufacturing sector-1.5% which was the largest negative contribution in July. That was the largest decline since April 2021
• Mining and oil and gas extraction was the biggest gainer with a +1.0% rise

The advanced estimate for August is for a 0.1% gain looking at the different sectors mining and oil and gas extractions was the biggest gainer. WIth the last two months at 0.0% and -0.2% and the forward estimate at 0.1%, there is not a lot of growth over the last quarter.