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.

Just Posted

Lighting up Hope for a cause

Purple light displays shine a light on domestic violence

‘Family and Friends in Memory of Linda’ raise $7,700

Linda McNicol, a long-time employee at the CIBC branch in Hope, passed away in June

Contentious issues debated at candidates meeting in Hope

Locals pack conference hall to learn more about local candidates

Drivers warn of slippery conditions on the Coquihalla

Snow is falling at the Summit of the Coquihalla

VIDEO: Mansbridge documentary to feature Hope, B.C.

New CBC film focuses on how Canadians are feeling prior to federal election

80% of TransLink bus routes are slower today than five years ago: report

TransLink says delays are costing $75 million a year

Climate activist Greta Thunberg’s mural defaced in Edmonton

The eyes on the portrait were blacked out

LETTER: Middle class better off with Trudeau’s child benefit boost

It’s a transfer, not a tax cut, but it helps families get ahead

VIDEO: Depth and scoring lacking for Vancouver Giants this season: Coach

G-Men defeated on home ice Sunday by Victoria – next up Everett on Friday

Report suggests new BC Ferries terminal near YVR

Metro Vancouver currently has two ferry terminals at northern and southern reaches

B.C. scouting group’s tent destroyed by black bear on Thanksgiving

The Richmond-based Sea Dragon Sea Scouts were camping at Mount Seymour Provincial Park

Greta Thunberg meets with First Nations chief in Fort McMurray

Thunberg has turned her protest against climate change into a global movement

Most Read