Signs that economic growth stalled over the summer have some economists debating the timing of the Bank of Canada’s next interest rate hike.
Statistics Canada said Friday that real gross domestic product was essentially unchanged for a second straight month in August. That fell short of economists’ calls and the agency’s own early expectations for a gain of 0.2 percent in the month.
Wholesale trade fell 1.4 percent in August as most subsectors contracted. StatCan said motor vehicle and vehicle parts wholesalers faced their first decline in seven months amid lower vehicle imports and weaker manufacturing activity in the subsector.
StatCan cited a “prolonged summer shutdown at a major auto assembly plant” to explain a 5.8 percent decline in motor vehicles and parts manufacturing in August….