Canadas economy likely stalled by summers end, StatCan says – National [Video]

The Canadian economy managed to eke out growth despite the impact of raging wildfires in July, Statistics Canada said Friday, but early estimates for August were less rosy.

Canada’s real gross domestic product was up 0.2 per cent in July, StatCan said, a notch above economists’ expectations. That boost was owed largely to services-producing industries in the month, including the public sector.

Retail trade posted the largest jump in July, with a full percentage point of growth marking the largest gain in the sector since January 2023. Gains in activity at motor vehicles and parts dealers in the month more than offset declines in June when a technical glitch disrupted sales at dealerships.

Wildfires were impacting several industries in July, however, with warehousing and transportation seeing its second consecutive monthly contraction. Some rail transportation was forced to shutdown at the end of the month amid wildfires through Jasper National Park and the Rocky Mountains, the …