Canada's GDP Up 0.5%

The Canadian economy grew by 0.5% in August, and by 2.7% over the past year, pushed by manufacturing, mining and oil and gas production, Statistics Canada announced Oct. 31. This follows a rise of 0.2% in July.

Manufacturing was up 1.7% with 17 of the 21 major groups, accounting for 89% of this sector's output, recording growth. The largest increase was recorded by manufacturers of transportation equipment (up 3.5%) due to international demand for motor vehicles and parts.

The output of mines, utilities and factories increased 1.3% in August. Meanwhile, the energy sector recorded a 1.4% increase in August. Output of oil and gas exploration grew a further 7.0 % following a 20% rebound in July caused by favorable weather and market conditions.

Copyright Agence France-Presse, 2005

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