Canadian GDP shrinks in August

Avatar photo

OTTAWA, Ont. — Data released by Statistics Canada today shows the Canadian economy contracted 0.3% in August.

The transportation and warehousing sector felt the pinch even more, shrinking by 0.6%.

“Real gross domestic product continued the seesaw pattern observed since December 2007 with a 0.3% decline in August, partly reversing the 0.7% increase in July,” StatsCan announced. “Wholesale trade, manufacturing, and the energy sector, which were the main contributors to the July increase, all retreated in August. Some transportation industries, such as rail and truck transportation, were affected by the downturn in these sectors. Conversely, accommodation and food services advanced as did the public sector. Finance and insurance, and retail trade were unchanged.”

Avatar photo

Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry.


Have your say


This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.

*