Canada's GDP down a fraction in August

Canada's gross domestic product dipped 0.1 percent in August with widespread production decreases, Statistics Canada reported from Ottawa Wednesday. The leading sector among the gainers was wholesale, which posted a modest 1 percent gain in August. "Notable increases were recorded in the wholesaling of food products, of machinery, equipment and supplies, of building materials, of petroleum products and of farm products," StatsCan said. Within the broad goods production sector, declines were seen in mining, oil and gas extraction, manufacturing, utilities and construction, the report said. Mining and oil and gas extraction declined 0.7 percent in August, while oil and gas extraction fell 2.8 percent. Manufacturing output decreased 0.6 percent, utilities declined 0.8 percent and construction edged down 0.1 percent, the agency said. "The output of real estate agents and brokers fell 6.6 percent in August, down for a fourth consecutive month, as activity in the home resale market declined," the report said.