Canada’s economy was essentially unchanged in August, following a slight increase in July.
Statistics Canada said the country’s goods-producing industries fell to its lowest level since December 2021.
The manufacturing sector was the biggest drag, according to the agency, decreasing by 1.2 per cent.
Transportation and warehousing also contracted due to work stoppages at Canada’s two main rail carriers.
Utilities contracted 1.9 per cent following three consecutive months of growth. Wholesale trade was down 0.6 per cent, marking the third decrease in four months.
Elsewhere, the finance and insurance sector expanded for the third straight month and the public sector was up for the eighth consecutive month.
Retail trade was up for a second month in a row while the mining, quarrying and oil and gas extraction sector was also up.
Meanwhile, preliminary estimates show the economy likely expanded by 0.3 per cent in September, which suggests the economy expanded by 0.2 per cent in the third quarter.
Official estimates will be released on Nov. 29.
