Canada’s real output was essentially unchanged in August for a second consecutive month. Retail trade and manufacturing expanded, but wholesale trade and oil and gas extraction declined. Goods production edged higher as services contracted. An advance estimate points to a small September decline, with fuller results due on November 30.
Canada’s real gross domestic product was essentially flat in August, leaving output without a meaningful increase for a second month. Nine of twenty industrial sectors expanded. Services production slipped 0.1 per cent, offsetting a 0.1 per cent rise in goods production. Statistics Canada’s industry figures are seasonally adjusted measures of real output.[1], [2]
Retail trade grew 1.2 per cent and manufacturing increased 0.3 per cent. Machinery production rose 3.8 per cent and petroleum refineries expanded 4.2 per cent. Motor vehicle manufacturing, however, contracted 5.8 per cent amid extended plant shutdowns. Wholesale trade fell 1.4 per cent. Oil and gas extraction declined 1.2 per cent for its third consecutive monthly fall, with maintenance affecting oil sands production.[1]
An advance estimate puts September’s output decline at 0.1 per cent. With that early reading included, third-quarter growth was estimated at 0.3 per cent. Both estimates use incomplete information. Fuller September and quarterly results are due on November 30. The August release also updated earlier monthly estimates back to January 2025 as additional information became available.[1]
