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Canada\u2019s real GDP rose 0.2% in July, exceeding forecasts and reversing June\u2019s 0.1% drop, Statistics Canada reported. The rebound follows an annualized 1.6% contraction in Q2 as analysts watch for signs of recession.
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Goods-producing industries<\/strong> led the gain with a 0.6% increase after three months of losses. Mining, quarrying, and oil and gas extraction climbed 1.4%, driven by a 2.6% jump in metal ore mining and a 0.9% rise in oil and gas output. Oil sands extraction gained 1.2% as facilities ramped up production after spring maintenance.<\/p>\n\n\n\n Manufacturing<\/strong> rose 0.7% after falling sharply in June. Durable-goods manufacturing advanced 1.0%, led by transportation equipment (+3.2%), with motor vehicle assembly up 9.1% and parts up 10.5%. Non-durable goods grew 0.4%, boosted by a 12.6% surge in pharmaceuticals.<\/p>\n\n\n\n Services<\/strong> edged up 0.1%. Wholesale trade gained 0.6% on stronger vehicle and building-materials sales, while real estate rose 0.3% on higher home resales in Ontario and British Columbia. Retail trade dragged overall growth, falling 1.0% as food, clothing and sporting goods stores posted steep declines, partly offset by a 2.4% increase in non-store retailers. Transportation and warehousing rebounded 0.6%, with pipeline transportation up 2.8% on stronger crude and gas exports.<\/p>\n\n\n\n Outlook & currency reaction:<\/strong><\/p>\n\n\n\n A flash estimate shows GDP was flat in August as wholesale and retail gains were offset by declines in mining, manufacturing, and transport. Official data are due October 31.<\/p>\n\n\n\n The Canadian dollar was little changed near 1.3950 against the U.S. dollar after the data release. Analysts say the report suggests Canada is avoiding a recession for now but faces continued pressure from tariffs and trade disruptions.<\/p>\n","protected":false},"excerpt":{"rendered":" Canada\u2019s real GDP rose 0.2% in July, exceeding forecasts and reversing June\u2019s 0.1% drop, Statistics Canada reported. The rebound follows an annualized 1.6% contraction in Q2 as analysts watch for signs of recession. Key drivers of July\u2019s growth: Goods-producing industries led the gain with a 0.6% increase after three months of losses. Mining, quarrying, and …<\/p>\n","protected":false},"author":9,"featured_media":61436,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49,37,36],"tags":[],"class_list":["post-119284","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/119284","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=119284"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/119284\/revisions"}],"predecessor-version":[{"id":119286,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/119284\/revisions\/119286"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61436"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=119284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=119284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=119284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}