2025.08.2912:46:29UTC+00Canada Economy Seen Growing 0.1% in July After June Decline

In July 2025, Canada's GDP saw a modest increase of 0.1% from the previous month, primarily fueled by growth in real estate, rental and leasing, mining and quarrying (excluding oil and gas), and wholesale trade, according to preliminary estimates. However, this was partially counterbalanced by a decline in the retail trade sector. The GDP figures reflect a recovering economy following a 0.1% decline in June, which marked the third consecutive monthly downturn. This decline was largely driven by a 1.5% reduction in the manufacturing sector and a 1.2% dip in the utilities sector, resulting in a 0.5% contraction in goods-producing industries for that month. Meanwhile, the services-producing industries showed a slight increase of 0.1%, spurred by advances in retail trade, real estate and rental and leasing, and wholesale trade, although these gains were mitigated by decreases in the public sector and other sectors within the aggregate. Overall, 11 out of the 20 industrial sectors experienced contractions in June.