Canadian economy grew 0.1% in August: Statistics Canada
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Statistics Canada says the Canadian economy grew by 0.1 per cent in August.
In a report Friday, the federal agency says growth in services-producing industries was offset by a decline in good-producing industries.
Retail, wholesale trade, agriculture, and the public sector all grew in August while construction, manufacturing and mining, quarrying and oil and gas extraction contracted.
Statistics Canada also says preliminary estimates suggest real gross domestic product grew by 0.1 per cent in September.
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Markets in Canada and the U.S. continued to trade lower while oil went up late morning on Friday as inflationary fears prevailed among investors.
Gold prices fell by 1.8 per cent on Friday as the dollar strengthened on a report that the United States will deploy extra troops in the Middle East, fanning concerns of higher oil prices, inflation, and with it, elevated interest rates.
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Statistics Canada says retail sales were up 1.1 per cent at $70.7 billion in January, led by sales at motor vehicle and parts dealers.
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