Statistics Canada: Canada's GDP flat during July

On Friday, Statistics Canada released new GDP data, which showed that Canada's GDP was unchanged during July.

The service sector expanded marginally while the goods-manufacturing industry recorded a contraction.

The manufacturing sector shrank by 1.5%.

Agriculture and forestry, transport and warehousing, retail and professional services also declined.

Recording a boom in the mining and oil and gas sectors, it is said that the mining sector grew by 4.2% and oil and gas extraction grew by 1.5%.

July GDP data was weaker than economists expected.

Preliminary data showed an expansion of 0.1% during August compared to expectations of 0.2%.