Statistics Canada reported a 0.2% growth in real GDP for July, driven primarily by a robust performance in the retail trade sector, which surged 1%.
The retail trade sector’s growth was notably supported by motor vehicle and parts dealers, achieving a remarkable 2.8% increase, which positioned it as the largest contributor.
In July, the services-producing industries overall grew by 0.2%, while the public sector showed a 0.3% rise, reflecting steady growth across various sectors.
Despite the growth in July, preliminary estimates for August indicate that real GDP remained essentially unchanged, highlighting the complexities and volatility in economic trends.
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