BUSINESS

Canadian GDP Down 0.1% In August After A Flat July

10/31/2014 08:35 EDT | Updated 12/31/2014 05:59 EST
CP
OTTAWA - Statistics Canada says the country's economic output fell slightly by 0.1 per cent in August, the first month to show a decline this year.

Economists had expected no change in August from July, when economic output remained largely unchanged from the previous month, when the economy grew 0.3 per cent.

The federal agency says goods production fell 1.0 per cent in August as most major subsectors — led by oil and gas extraction and manufacturing — posted losses.

However, it says utilities increased in August.

Statistics Canada says the output of service industries was up 0.2 per cent in August, with gains in the public sector, wholesale trade and the finance and insurance sector.

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