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. (Photo by THE CANADIAN PRESS)

Statistics Canada says economy flat in July as oil and gas sector down

OTTAWA — 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, Stastics Canada says the services-producing industries rose 0.3 per cent.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Still no mandatory masks in Red Deer

While a growing number of Alberta communities have made masks mandatory, the… Continue reading

Maskwacis teen charged in 10-year-old boy’s death

The RCMP Major Crimes Unit have laid a manslaughter charge against a 13-year-old boy from Maskwacis.

134 new cases of COVID-19 on Friday

First day over 100 cases since July 31

Red Deer asking for feedback on new transit routes

The new routes will begin Aug. 23

Rainbow flag raised at Red Deer College to kick off Pride Week

Central Alberta Pride Week runs next week

Cast your votes for Best of Red Deer

The Advocate’s Best of Red Deer Readers’ Choice Awards are back. Community… Continue reading

Red Sox Hold off Blue Jays with Moreland’s Bat and Bullpen

Red Sox Hold off Blue Jays with Moreland’s Bat and Bullpen

Coyotes advance with 4-3 overtime win over Predators

Coyotes advance with 4-3 overtime win over Predators

‘Caught up in the frenzy:’ Oilers 50/50 draw breaking ticket sale records

‘Caught up in the frenzy:’ Oilers 50/50 draw breaking ticket sale records

Nets, Magic grab last two NBA playoff spots in the East

Nets, Magic grab last two NBA playoff spots in the East

Li at his best and builds early lead at PGA Championship

Li at his best and builds early lead at PGA Championship

Swinging hard lifts Champ into contention in PGA

Swinging hard lifts Champ into contention in PGA

Big start, fast finish gives Lydia Ko the lead at Marathon

Big start, fast finish gives Lydia Ko the lead at Marathon

Most Read