Canada’s Economy Flatlines for Second Month in a Row

Canada’s real GDP was unchanged month over month in August, marking a second consecutive flat month after July’s reading. Economists had expected 0.2 per cent growth. Wholesale trade fell 1.4 per cent, partly due to lower vehicle imports, while retail trade rose 1.2 per cent and manufacturing increased. Statistics Canada’s preliminary estimate suggests GDP contracted 0.1 per cent in September, though that figure may be revised. The economy was tracking annualized third-quarter growth of 1.3 per cent, below the Bank of Canada’s 2 per cent forecast.