Economic Growth Slows Amid Broader Volatility

Economic growth in Canada has slowed down due to broader volatility, according to an economist. Statistics Canada reported that real gross domestic product was essentially unchanged in July.

The strength in construction and utilities that month was offset by declines elsewhere in the economy, including manufacturing and mining sectors. TD Bank economist Marc Ercolao noted that some of the month's declines were attributed to one-off factors like production disruptions.

Ercolao stated that stalled growth in July isn't alarming, as it reflects a normal fluctuation in the economy's performance.