Canada's GDP Stalls in August for Second Month

Canada’s economy recorded virtually no growth in August for a second consecutive month, as falling wholesale trade and reduced public administration activity offset gains in retail, manufacturing and other industries, Statistics Canada reported Friday. Real gross domestic product was essentially unchanged in August, following no growth in July. Economists had expected a 0.2 per cent increase. The agency’s preliminary estimate indicates GDP declined 0.1 per cent in September, with decreases in manufacturing and mining, quarrying and oil and gas extraction. That estimate may be revised. Statistics Canada’s flash estimate puts annualized economic growth at 1.3 per cent in the third quarter, down from 3.3 per cent in the second quarter. The third-quarter figure remains preliminary. The agency is scheduled to release its official quarterly estimates alongside September GDP figures next month. Wholesale trade fell 1.4 per cent in August, with most subsectors contracting. Lower activity among motor vehicle and parts wholesalers, amid reduced vehicle imports, contributed to the decline. Public administration also contracted as work preparing for the 2026 census wound down. The broader...