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Q3 GDP Lacking Momentum

CANADA DATA
  • July monthly GDP was unchanged while the August flash estimate is +0.1%.
  • July GDP +1.1% YOY. 
  • Goods-producing industries -0.3% while services-producing industries increased by +0.1%.
  • Manufacturing led the decline, contracting by the largest amount since April 2021. 
  • Temporary disruptions, such as the port strike and bad weather, contributed to sub-sector declines while recovery from wildfires boosted others. 

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