OTTAWA, Ont. — Transportation and warehousing GDP gained 1.0% on the strength of rail (+1.5%), truck (+0.8%) and water transportation (+8.0%) in August, according to a report released this morning by Statistics Canada.
Water transportation rebounded to its June level following the end of strike activities on the West Coast. For a second consecutive month, air transportation decreased 0.3% (mainly a reflection of the persistent decline in the number of international travellers, not a decline in cargo volumes). The decline paralleled the appreciation of the dollar vis–vis the US currency.
Over all for the Canadian economy GDP advanced 0.5% in August following a 0.2% increase in July. Growth in the goods producing sector (+1.0%) was pushed by manufacturing and mining, oil and gas extraction and exploration, while the service producing sector (+0.2%) was spurred by wholesale, transport and warehousing as well as by the real estate industries. Stronger international demand and the end of extended planned shutdowns were behind the strength in manufacturing industries. The main sources of weakness were in retail trade, construction and some tourism-related industries.
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