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

QUIZ: Do you know the truth?

In what has been described as a post-truth era, how much do you know about truth and lies?

Shuswap First Nations landmark project gets $10,000 boost

The funds received from the Heritage Legacy Fund will assist research and design of the project.

Opening night lineup for online Roots & Blues festival released

The first night of the festival on Aug. 14 will be stacked with favourites from previous years

Video: Enraged man terrifies staff and customers at Blind Bay restaurant

Video on Facebook shows the man hurling profanity at workers during the dinner rush on Aug. 7.

EDITORIAL: Managing wildfires

Wildfires have the potential to cause significant damage within our province

53 new COVID-19 cases, no new deaths cap off week of high infection rates in B.C.

Roughly 1,500 people are self-isolating because they either have COVID-19 or have been exposed to it

NHL playoffs: Canucks to meet St. Louis Blues in Round 1

Vancouver takes on defending champs beginning Wednesday

Snapshot: Parked at the park

Natalie Hextall waits on the cool grass in Salmon Arm’s Badger Park… Continue reading

Local state of emergency declared near Okanagan home

Slope failure cited as City of Penticton issues notice at home in 600 block of Heather Road

Simon Cowell breaks his back falling from electric bike

Incident happened at his home in California

Therapeutic art for sale at Okanagan show

17th annual Awakening the Spirit Art Show and Sale presented by Vernon Canadian Mental Health Assoc.

VIDEO: Internet famous Yukon-based bhangra dancer explores Vancouver Island

Gurdeep Pandher spreads joy through dance, forms cross-cultural connections amid pandemic

Tech mogul growing North Okanagan’s wine industry

The founder of online dating site Plenty of Fish is developing 900 acres in Vernon

Fentanyl-laced powder being sold as cocaine in Kamloops

Interior Health has released a warning about very strong fentanyl in Kamloops

Most Read