Sep 29, 2022
By Jeremy Logan
The Canadian economy grew slightly in July with the latest reading on real gross domestic product coming in higher than expected.
Statistics Canada says the economy grew by 0.1%, outperforming its preliminary estimate that pointed to a contraction of 0.1%.
The federal agency says growth in the goods-producing industries was partially offset by a decline in the services-producing industries.
Statistics Canada also notes the mining, quarrying, oil and gas sector grew by 1.9% in July, following slight declines in the two previous months.
The latest reading follows similar growth in June, when the economy expanded by 0.1%.
A preliminary estimate for August indicates real G.D.P. for that month was essentially unchanged.