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MNI: Canada GDP Flat For Fourth Straight Month in August

(MNI) OTTAWA

Canada's gross domestic product was little changed over a fourth consecutive month in August, evidence that rapid inflation, rising interest rates and frayed global supply chains are taking their toll. 

Statistics Canada said Thursday preliminary tracking showed gains in retail and wholesale trade were offset by declines in manufacturing and oil production, leaving August output "essentially unchanged." The official reading for July showed a 0.1% gain, following an identical reading for June and stagnant output in May.

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Canada's gross domestic product was little changed over a fourth consecutive month in August, evidence that rapid inflation, rising interest rates and frayed global supply chains are taking their toll. 

Statistics Canada said Thursday preliminary tracking showed gains in retail and wholesale trade were offset by declines in manufacturing and oil production, leaving August output "essentially unchanged." The official reading for July showed a 0.1% gain, following an identical reading for June and stagnant output in May.

Keep reading...Show less