XPost: soc.culture.canada, can.general, can.politics   
   XPost: soc.culture.quebec   
   From: abc@a123.ca   
      
   Canada’s economy beats expectations.   
      
   BY GORDON ISFELD, SEPTEMBER 28, 2012   
      
   Manufacturing was up 0.6% in July, Statistics Canada said, following a   
   decline of 0.7% the previous month.   
      
   OTTAWA — Canada’s economy continued to eke out modest gains in July,   
   although slightly better than expected, as the manufacturing sector   
   rebounded from a decline in the previous month along with retail and   
   wholesale activity.   
      
   The economy grew 0.2% in July, compared with June’s advance of 0.1%,   
   which was revised down from 0.2% in Friday’s report from Statistics   
   Canada.   
      
   It was the fifth consecutive monthly gain in gross domestic product.   
      
   Economists had forecast 0.1% growth in July, the first indication of how   
   the third quarter might be shaping up. On an annualized basis, gross   
   domestic product rose 1.8% in the second quarter, the same pace as the   
   first previous quarter and slightly stronger than the 1.7% growth in the   
   United States.   
      
   The Bank of Canada expects third-quarter growth of 2%.   
      
   “Given the very early evidence based upon the Q2 hand-off and the first   
   month of Q3, we’re tracking a tepid 1% annualized pace of GDP growth in   
   Q3 assuming unchanged levels in August and September in order to focus   
   upon what we know and remain neutral on the two tail bias over the   
   duration of the quarter at this point,” Scotia Capital said in a note to   
   investors.   
      
   Manufacturing was up 0.6% in July, Statistics Canada said, following a   
   decline of 0.7% the previous month. Production of durable goods was   
   higher, led by computers and electronics, and non-durable goods also rose   
   on the strength of petroleum and coal products.   
      
   Retail trade rose 0.6% after declining 0.1% in June. Purchases at vehicle   
   and auto-parts dealerships lifted the sector in July, as did sales at   
   general merchandise stores, and health and personal care outlets.   
      
   Wholesale trade was up 0.2%, recovering from a 0.9% decline in June, with   
   petroleum products, and personal and household goods accounting for much   
   of the rebound.   
      
   However, mining and oil and gas extraction declined by 0.3% overall in   
   July, following a 0.1% decline a month earlier.   
      
   The construction sector registered a 0.1% drop, after gaining 0.4% in   
   June, led by declines in the residential and non-residential building   
   sectors.   
      
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