1-Nov-2010 3:27 PM

Canada GDP increases in Aug-2010 following decline in Jul-2010

Statistics Canada stated (29-Oct-2010) real gross domestic product increased by 0.3% in Aug-2010 following a 0.1% decline in Jul-2010. Oil and gas extraction, wholesale trade and manufacturing were the main sources of growth while increases were also recorded in the finance and insurance sector, by real estate agents and brokers, in construction and retail trade. Utilities and forestry decreased while public sector output was unchanged. A separate Statistics Canada report stated (29-Oct-2010) the Industrial Product Price Index (IPPI) increased 0.2% in Sep-2010 on a month-on-month basis, led mainly by primary metal products. The Raw Materials Price Index declined 0.4% in Sep-2010.