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U.S. markets recover from steep losses
OTTAWA, Oct. 31 (UPI) -- Canada's gross domestic product declined 0.3 percent in August, led largely by decreases in the energy sector, Statistics Canada reported Friday.
Output of the energy sector decreased 0.5 percent in August including a 4.5 percent decline in refinery output, while wholesale trade also dropped 3.1 percent during the month.
The manufacturing sector fell 1.1 percent in August with 18 of the 21 major groups declining. Construction also declined 0.3 percent in August, StatsCan said.
The finance/insurance sector was unchangedt, as was retail trade, although there were substantial sales declines at gasoline stations and new car dealers, the report said.
The accommodation and food services sector saw a 0.8 percent increase, attributed partly to the influx of tourists to Quebec City for its 400th anniversary celebrations, the report said.
Canada's GDP for July was up 0.7 percent on a month-to-month basis.
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