Canada’s GDP growth was flat month-over-month in August, missing the anticipated 0.1% mom growth.
Services sector provided some support, increasing by 0.1% mom, with notable gains in finance, insurance, and public administration.
However, the goods-producing sector contracted by -0.4% mom, marking its lowest point since December 2021, driven by declines in manufacturing and utilities.
Despite the overall stagnation, 12 out of 20 sectors showed growth, indicating resilience across much of the economy.
Early estimates for September indicate a modest recovery, with real GDP expected to rise by 0.3% mom.
