Gross domestic product expanded by 0.2 per cent in July, Statistics Canada said today, better than June’s revised 0.1 per cent and the 0.1 per cent than economists had expected.
July’s gains were driven by the manufacturing and utilities sectors, while mining, oil and gas, and construction suffered setbacks.
Manufacturing, which has been hit of late, bounced back by 0.6 per cent on the heels of June’s 0.7-per-cent slump.
Big ticket items also climbed, by 0.7 per cent, largely due to computers and electronic gadgets.
Retail trade climbed 0.6 per cent.
via Globe and Mail
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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