OTTAWA, Sept. 26: Canada’s real gross domestic product (GDP) grew 0.2 percent in July, after edging down 0.1 percent in June, said Statistics Canada on Friday.
This first increase in four months was predominantly driven by expansion in the goods-producing industries, said the national statistical agency.
The report put the spotlight on iron and steel mills and ferro-alloy manufacturing, as the tariff highly impacted them. July’s activity in iron and steel mills and ferro-alloy manufacturing was 24.8 percent below February’s level, before the introduction of a 25 percent tariff on U.S. imports of steel on March 12, said the agency.
Statistics Canada also said advance information indicates that real GDP was essentially unchanged in August.
