Pumpjacks pump crude oil near Halkirk, Alta., June 20, 2007. Statistis Canada says real gross domestic product was essentially unchanged in July. THE CANADIAN PRESS/Larry MacDougal

Statistics Canada says economy flat in July as oil and gas sector down

Economists had expected growth of 0.1 per cent

Statistics Canada says the country’s real gross domestic product was essentially unchanged in July as weakness in oil and gas extraction offset gains in service industries.

Economists had expected growth of 0.1 per cent, according to financial markets data firm Refinitiv.

The flat reading for the month came as goods-producing industries fell 0.7 per cent for the month.

The mining, quarrying, and oil and gas extraction sector pulled back 3.5 per cent in the month, the largest decrease in the sector since May 2016.

Oil and gas extraction fell 3.0 per cent in July due in large part to a shutdown of some of Newfoundland and Labrador’s offshore production facilities for a large part of the month as a result of maintenance issues.

Meanwhile, Statistics Canada says the services-producing industries rose 0.3 per cent.

ALSO READ: Two B.C. men seek to open class action against e-cigarette giant Juul

The Canadian Press


Like us on Facebook and follow us on Twitter.

Just Posted

Jumbo saga reaches finale

A three-decade long disagreement comes to a close.

Ktunaxa, supporters celebrate protection of Qat’muk and the Jumbo valley

Speeches, acknowledgements and ceremonies mark an emotional gathering in Cranbrook

Former Waterside property to be rezoned?

Invermere residents supported rezoning Waterside property.

Angel Flight

Flights take patients for medical appointments.

Potential pints and a paroled peacock

Radium council discussed a micro-brewery and one of the village’s wildlife mascots.

Hospital patient pleads guilty to dumbbell assault of nurse in Abbotsford

Neale Heath admits to assault causing bodily harm in attack last September

‘Epic sky palace’: B.C. businesses help create dream treehouse for boy recovering from cancer

‘It was kind of a bright shining beacon at the end of a horrible, dark tunnel’

VIDEO: Nickelback gears up for nostalgia tour

Canadian band joins Stone Temple Pilots for a summer tour that includes just one stop in Canada

B.C. teacher suspended for poking student in stomach, pulling another’s ponytail

Teacher also swore in classroom, used Facebook to contact students

Larry Walker Jr. and Sr. keeping expectations low for hall-of-fame induction

Walker needs 75 percent of votes in order to be inducted into Cooperstown

Gene Simmons to launch new Titans of Rock music festival in Grand Forks

The rock legend has partnered with Chuck Varabioff to run Titans of Rock in Grand Forks

VIDEO: 17 Husky pups rescued from Interior B.C. property find new homes

The BC SPCA caught the moment on video the last puppy, Uki, met his owners

U.S. officials confirm first case of Wuhan coronavirus near Seattle

The U.S. is the fifth country to report seeing the illness

Most Read