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September 30, 2008 - Forex Economic News
Canadian GDP rises in July, beats forecast.
The Canadian Gross Domestic Product increased in July according to a report by Statistics Canada released today beating market forecasts. Canadian GDP increased in July by 0.7 percent following a rise of 0.1 percent in June and a decline of 0.1 percent in May. July's GDP 
growth surpassed market forecasts predicting a 0.1 percent gain for the month. Year-over-year GDP growth registered 1.2 percent through July.
Contributing to the GDP gain was an increase in energy output as this sector increased by 3.1 percent in July . Wholesale trade and manufacturing growth also contributed to the increased GDP with gains of 1.9 percent and 1.3 percent, respectively. The biggest declining sectors in the Canadian economy for July were Accomadation and food services and Arts, entertainment and recreation.
tags: canada gdp, economic growth, CAD
