Pumpjacks pump crude oil near Halkirk, Alta., June 20, 2007. Statistis Canada says real gross domestic product was essentially unchanged in July. THE CANADIAN PRESS/Larry MacDougal

Statistics Canada says economy flat in July as oil and gas sector down

Economists had expected growth of 0.1 per cent

Statistics Canada says the country’s real gross domestic product was essentially unchanged in July as weakness in oil and gas extraction offset gains in service industries.

Economists had expected growth of 0.1 per cent, according to financial markets data firm Refinitiv.

The flat reading for the month came as goods-producing industries fell 0.7 per cent for the month.

The mining, quarrying, and oil and gas extraction sector pulled back 3.5 per cent in the month, the largest decrease in the sector since May 2016.

Oil and gas extraction fell 3.0 per cent in July due in large part to a shutdown of some of Newfoundland and Labrador’s offshore production facilities for a large part of the month as a result of maintenance issues.

Meanwhile, Statistics Canada says the services-producing industries rose 0.3 per cent.

ALSO READ: Two B.C. men seek to open class action against e-cigarette giant Juul

The Canadian Press


Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Sylvan Lake veterinarian’s winter tips for four-legged friends

Dr. Sandy Jameson shares tips to help cats and dogs to stay safe and healthy during the winter

Sylvan Lake Wranglers soar over High River Flyers

The Sylvan Lake Wranglers came out of the Sunday night game with a 5-3 victory on home ice

Bantam West Central Tigers claw to victory over Medicine Hat

The West Central Tigers defeated the Medicine Hat Hounds 4-2 at the NexSource Centre on Jan. 18.

Residential street plowing to resume in Sylvan Lake

Snow removal was postponed last week due to extreme cold temperatures

Sylvan Lake and Eckville slowly climbing out of the deep freeze

The Weather Network says warmer, more moderate temperatures are on the way

VIDEO: Soldiers trade rifles for snow shovels to help dig out St. John’s

A state of emergency is set to extend into a fifth day

Tax revolt? Unpaid taxes from energy companies to Alberta towns more than double

The association says they are owed a total of $173 million

New post-secondary funding model in Alberta tied to performance measures

By 2022, up to 40 per cent of post-secondary funding could be linked to performance

Alberta bulldog breeder ordered to refund B.C. buyer over puppy’s behaviour

Tribunal ruled a verbal agreement to send a new dog superseded the written contract

Meng’s lawyer argues at extradition hearing that fraud allegations are ‘facade’

Hearing underway in Vancouver over U.S. request to extradite Meng Wanzhou

Prince Harry: ‘Powerful media’ is why he’s stepping away

Prince Harry and Megan have stepped away from their royal commitments

Rebels fight back from 3-1 Raider lead to win 4-3 in shootout

Two goals by Zak Smith key to Rebels comeback

Most Read