Statistics Canada Reporting Economic Growth in August

Friday, 28 October 2022 11:53

By Linda Morgan

The Canadian economy grew by 0.1 percent in August, thanks to gains in the service sector.

StatsCan is reporting some growth for the Canadian economy.

The agency says the GDP increased by 0.1 percent during the month of August.

Early estimates indicate a growth of 0.1 percent last month as well.

While there was growth in the service sector, there was a drop in good-producing industries.

Retail, wholesale trade and agriculture grew in August, while construction, mining and manufacturing declined.

This comes as worries of a recession grow.

The Bank of Canada predicts the economy will stall late this year into early 2023.

More from Local News

Province Investing Against Invasive Species

The $2-million will help the Niagara region
Niagara Driver Charged with Drug Impairment

OPP say this happened on Highway 17, when a car was seen weaving all over the road
Welland Man Arrested for Child Porn

Police say they noticed child sexual abuse material shared on a social media page early this month
28 More Doctors Hired in Niagara

The region and Niagara Health coordinating new partnership to find even more doctors
Killed Police Officers Honoured by NRP

Police Chief praised Niagara members for standing at attention in 'pounding rain'
Niagara Wineries Shuttle Service Possible

The CUTRIC hopes the province supports helping people move among wineries
Canal Days Vendors Warned of Scams

The City of Port Colborne says criminals are sending fraud emails for payment
Niagara Falls Exploring Hub to Help Homeless

Former CAO Ken Todd has been meeting with community groups